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.
Players
Fort Lauderdale 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93