Churchill Real Estate Provides $67.5M Construction Loan For Development Site On Santander Avenue, Coral Gables
FINANCED
$67,500,000
Florida
See Similar DealsDevelopment Site
Financed 07/05/2023
FINANCED
Churchill Real Estate Provides $67.5M Construction Loan For Development Site On Santander Avenue, Coral Gables
535 Santander Ave Coral Gables, FL 33134, USA
See Similar DealsDevelopment Site
Financed 07/05/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$67,500,000.00
Monthly NOI$450,000.00
Monthly Debt Service$426,645.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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