Updated Feb 16, 2024
Wells Fargo Provides $140M Loan For Development Site In West Palm Beach
575 South Rosemary Avenue, West Palm Beach, Florida 33401, United States
$140,000,000
Building Size
—
Asset Type
Development Site
Closing
May 3, 2022
About this deal
AI
Located at 575 South Rosemary Ave in West Palm Beach, this development site recently closed a transaction. The property belongs to the Related Companies, with Stephen Ross serving as the landlord. The loan for this transaction was provided by Wells Fargo, with a total amount of $140,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $140,000,000
- Address: 575 South Rosemary Ave
- Market: West Palm Beach
Stephen Ross, the owner of the Related Companies, represented the landlord in this deal. No additional details were given about the individuals or companies involved in the transaction.
Players
West Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93