Updated Oct 29, 2024
Landmark Development Corporation Secures $32.9M Construction Loan For Dania Beach Development Site
59 Southwest 3rd Avenue, Dania Beach, Florida 33004, United States
$32,900,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2023
About this deal
AI
The development site located at 59 Southwest Third Avenue in Dania Beach has been involved in a recent transaction. The property spans across 1.2 acres and is owned by Landmark Development Corporation, represented by Robert Saland.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $32,900,000
- Address: 59 Southwest Third Avenue
- Market: Dania Beach
- Lender: Truist Bank, United Way & Lending Partners
- Landlord: Landmark Development Corporation - Robert Saland
- Loan Type: Construction Loan
Truist Bank, United Way, and Lending Partners provided a construction loan of $32,900,000 for the development site in Dania Beach. Landmark Development Corporation, represented by Robert Saland, serves as the landlord of the property.
Players
Dania 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93