Updated Oct 28, 2024
Principal Life Insurance Co. Provides $44M Construction Loan For Development Site In Plantation
8361 Northwest 7th Court, Plantation, FL, USA
$44,000,000
$40/SF
Building Size
1,089,000 SF
Asset Type
Development Site
Closing
Sep 16, 2021
About this deal
AI
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.
On the Map
$44,000,000
$40/SF
Development Site
View full map
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Matthew Pellar to view all their deals.
Browse Fort Lauderdale development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93