Updated Oct 29, 2024
Churchill Real Estate Provides $67.5M Construction Loan For Development Site On Santander Avenue, Coral Gables
535 Santander Ave Coral Gables, FL 33134, USA
$67,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 5, 2023
About this deal
AI
A development site located at 535 Santander Avenue in the Coral Gables market has been involved in a recent loan transaction. The loan, totaling $67,500,000, was provided by Churchill Real Estate. The loan type for this transaction is a construction loan.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $67,500,000
- Lender: Churchill Real Estate - Jeff Rosenfeld & Sean Robertson
- Landlord: MG Developer - Alirio Torrealba
- Loan Type: Construction Loan
Jeff Rosenfeld and Sean Robertson from Churchill Real Estate served as the lenders for this transaction. Alirio Torrealba, representing MG Developer, acted as the landlord in the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93