Madison Realty Capital Provides $30M Acquisition Loan For Development Site In Naples
900 5th Avenue South, Naples, FL, USA
$30,000,000
$10,359/SF
Building Size
2,896 SF
Asset Type
Development Site
Closing
Sep 23, 2021
AI
The development site located at 900-1100 Fifth Avenue South in Naples was recently involved in a closed transaction. The site spans across 4.27 acres, making it a valuable piece of property in the area.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $30,000,000
- Address: 900-1100 Fifth Avenue South
- Market: Naples
- Asset Type: Development Site
- Acres: 4.27
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: M Development - Brandon Tarpey
- Landlord Advisor: Scott Aiese - JLL
- Loan Type: Acquisition Loan
The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen representing the lender. M Development, led by Brandon Tarpey, acted as the landlord in this deal. Scott Aiese from JLL supported the landlord as an advisor. The loan amount for this acquisition was $30,000,000.
Players
Naples 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93