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Madison Realty Capital Provides $30M Acquisition Loan For Development Site In Naples

Property Image
FINANCED
$30,000,000
Scott Aiese
BT

Florida

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Development Site2,896 SF
Financed 09/23/2021
the dealplayerscompscontact
Property Image
FINANCED

Madison Realty Capital Provides $30M Acquisition Loan For Development Site In Naples

900 5th Avenue South, Naples, FL, USA

See Similar Deals
Development Site2,896 SF
Financed 09/23/2021
Scott Aiese
BT
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$10,359
Total Square Footage:2,896 SF
Transaction Type:Loan

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

Scott Aiese
JLL
Scott Aiese
30 deals$2.7B volume
BROKER
Madison Realty Capital
Madison Realty Capital
LENDER
BT
M Development
Brandon Tarpey
3 deals$212M volume
LANDLORD

Details

FINANCED
IMAGE: Brandon Tarpey, Josh Zegen & Scott Aiese DATE: 09/23/2021 ADDRESS: 900-1100 Fifth Avenue South MARKET: Naples ASSET TYPE: Development Site ~ ACRES: 4.27 LENDER: Madison Realty Capital (@MadisonRealtyCapital) - Josh Zegen (@JZegen) LANDLORD: M Development - Brandon Tarpey LANDLORD ADVISOR: Scott Aiese - JLL LOAN AMOUNT: $30,000,000 LOAN TYPE: Acquisition Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00