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S3 Capital Provides $117 Million Construction Loan For AQUA At Westshore Yacht Club In Tampa

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FINANCED
$117,000,000
Jimmy Calvo
Max La Cava

Florida

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Development Site230,000 SF
Financed 10/11/2024
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FINANCED

S3 Capital Provides $117 Million Construction Loan For AQUA At Westshore Yacht Club In Tampa

5605 South West Shore Boulevard

See Similar Deals
Development Site230,000 SF
Financed 10/11/2024
Jimmy Calvo
Max La Cava
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$508
Total Square Footage:230,000 SF
Transaction Type:Loan

The property asset involved in this transaction is a development site located at 5605 South West Shore Boulevard in the Tampa market. The site encompasses a total square footage of 230,000 and is aimed at construction activities.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $117,000,000
  • Lender: Robert Schwartz & Steven Jemal - S3 Capital
  • Landlord: Eddie Avila & Jorge Ortega - Westshore Group
  • Landlord's Representative: Max La Cava & Jimmy Calvo - JLL
  • Loan Type: Construction

The key individuals and entities facilitating this transaction include JLL Capital Markets, which arranged the construction financing for Phase I of AQUA at Westshore Yacht Club, a project featuring 77 waterfront condominium residences and 9 luxury villas in Tampa Bay, Florida.

Players

Max La Cava
JLL
Max La Cava
44 deals$1.5B volume(917) 825-7346
BROKER
Jimmy Calvo
JLL
Jimmy Calvo
16 deals$3B volume
BROKER

Details

FINANCED
IMAGE: Robert Schwartz, Steven Jemal, Max La Cava, Jimmy Calvo, Eddie Avila & Jorge Ortega DATE: 10/11/2024 ADDRESS: 5605 South West Shore Boulevard MARKET: Tampa ASSET TYPE: Development Site ~ SF: 230,000 LENDER: Robert Schwartz & Steven Jemal - S3 Capital (@S3Capital) LANDLORD: Eddie Avila & Jorge Ortega - Westshore Group LANDLORD'S REP: Max La Cava (@Max_La_Cava) & Jimmy Calvo (@JCalvo1993) - JLL (@JLL) LOAN AMOUNT: $117,000,000 LOAN TYPE: Construction NOTE FROM LANDLORD'S REP: JLL Capital Markets arranged the construction financing for Phase I of AQUA at Westshore Yacht Club, featuring 77 waterfront condominium residences and 9 luxury villas in Tampa Bay, Florida.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$117,000,000.00

Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00