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First Capital Trusts Provides $1.6M Acquisition Loan For Development Site On Davis Island

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FINANCED
$1,600,000

Florida

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Development Site3,500 SF
Financed 08/02/2020
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Property Image
FINANCED

First Capital Trusts Provides $1.6M Acquisition Loan For Development Site On Davis Island

602 Channel Drive, Davis Islands, Tampa, FL, USA

See Similar Deals
Development Site3,500 SF
Financed 08/02/2020
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$457
Total Square Footage:3,500 SF
Transaction Type:Loan

Located at 602 Channel Drive in Davis Island, this development site was recently involved in a closed transaction. The property spans approximately 3,500 square feet and was acquired through an acquisition loan.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,600,000
  • Market: Davis Island

The lender for this transaction was First Capital Trusts, represented by Robert Czyszczon. The loan was used to finance the acquisition of the property. Legion Construction, represented by Svajunas Starkus, acted as the landlord in this deal. LuCapital Management served as the broker in this transaction. The loan amount of $1,600,000 allowed the buyer to acquire this development site in Davis Island.

Details

FINANCED
IMAGE: Robert Czyszczon & Conrad Lichwala DATE: 08/02/2021 ADDRESS: 602 Channel Drive MARKET: Davis Island ASSET TYPE: Development Site LENDER: First Capital Trusts - Robert Czyszczon (@Rob33706) LANDLORD: Svajunas Starkus - Legion Construction (@LegionConstructionFL) BROKER: LuCapital Management (@LuCapitalManagement) LOAN AMOUNT: $1,600,000 LOAN TYPE: Acquisition SF: 3,500

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,600,000.00

Monthly NOI$10,666.67
Monthly Debt Service$10,113.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00