Principal Life Insurance Co. Provides $44M Construction Loan For Development Site In Plantation
FINANCED
$44,000,000
Florida
See Similar DealsDevelopment Site1,089,000 SF
Financed 09/17/2021
FINANCED
Principal Life Insurance Co. Provides $44M Construction Loan For Development Site In Plantation
8361 Northwest 7th Court, Plantation, FL, USA
See Similar DealsDevelopment Site1,089,000 SF
Financed 09/17/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$40
Total Square Footage:1,089,000 SF
Transaction Type:Loan
The development site located at 8361 NW Seventh Place in Plantation has recently undergone a loan transaction. The loan amount for this transaction is $44,000,000, provided by Principal Life Insurance Co. The loan type is construction, indicating that the funds will be used to facilitate the development of the site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $44,000,000
- Address: 8361 NW Seventh Place, Plantation
- Market: Plantation
- Asset Type: Development Site
- Acres: 25
The landlord for this property is TM Real Estate Group, represented by Matthew Pellar. As the lender, Principal Life Insurance Co. played a crucial role in making this loan transaction possible. The construction loan will support the development of the site, allowing for future progress in the area.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,000,000.00
Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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