Updated Oct 28, 2024
Wells Fargo Provides $95.7M Construction Loan For Development Site In Boca Raton
6541 Canary Palm Circle, Boca Raton, FL, USA
$95,700,000
Building Size
—
Asset Type
Development Site
Closing
Nov 4, 2021
About this deal
AI
A development site located at 6541 Canary Palm Drive and 22725 Camino Del Mar in Boca Raton has secured a construction loan. The loan, amounting to $95,700,000, has been provided by Wells Fargo. The property is owned by North American Development Group (NADG), represented by John W.S. Preston.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $95,700,000
Wells Fargo has extended a construction loan of $95,700,000 to the development site located at 6541 Canary Palm Drive and 22725 Camino Del Mar in Boca Raton. The loan is intended for the construction of the property. North American Development Group (NADG), represented by John W.S. Preston, is the owner of the development site.
On the Map
$95,700,000
Development Site
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Players
Boca Raton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93