Updated Oct 14, 2026
Centennial Bank Provides $7M Construction Loan For 10-Acre Pickleball Stadium In Fort Lauderdale
891 Southwest 34th Street
$7,000,000
Building Size
—
Asset Type
Development Site
Closing
Dec 3, 2024
About this deal
AI
The asset involved in this transaction is a development site located at 891 Southwest 34th Street in Fort Lauderdale, encompassing 10 acres of land. This site is designated for the construction of The Fort, a pickleball stadium and entertainment complex, which is supported by a $7,000,000 construction loan from Centennial Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Lender: Camila Giraldo - Centennial Bank
- Landlord: Brad Tuckman & Jeffrey Roschman
- Market: Fort Lauderdale
Key individuals in this transaction include Camila Giraldo, representing Centennial Bank as the lender, and Brad Tuckman along with Jeffrey Roschman, who serve as the landlords for the development site. The construction of the facility will feature 43 advanced pickleball courts and will also act as the headquarters for the APP, combining sports with upscale leisure activities.
On the Map
$7,000,000
Development Site
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Players
Fort Lauderdale Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93