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Boca Ice & Fine Arts Center Secures $14M Loan For Development Site

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FINANCED
$14,000,000

Florida

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Development Site74,210 SF
Financed 07/16/2020
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Property Image
FINANCED

Boca Ice & Fine Arts Center Secures $14M Loan For Development Site

900 Peninsula Corp Circle, Boca Raton, FL 33487, USA

See Similar Deals
Development Site74,210 SF
Financed 07/16/2020
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$188
Total Square Footage:74,210 SF
Transaction Type:Loan

A development site located at 900 Peninsula Corporate Circle in Boca Raton has recently closed in a transaction. The property spans 4.7 acres and has a total square footage of 74,210. The loan amount for this deal was $14,000,000. The lender involved in this transaction includes Navy Federal Credit Union, Florida First Capital Finance Corporation, and the SBA 504 Program. The landlord of the property is Boca Ice & Fine Arts Center, represented by Jake Dinov, Hal Jacovitz, and Mitch Robbins.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $14,000,000
  • Address: 900 Peninsula Corporate Circle
  • Market: Boca Raton
  • Loan Amount: $14,000,000
  • Square Footage: 74,210
  • Acres: 4.7

The individuals involved in this deal include Jake Dinov, Hal Jacovitz, and Mitch Robbins representing Boca Ice & Fine Arts Center. Furthermore, the lenders Navy Federal Credit Union, Florida First Capital Finance Corporation, and the SBA 504 Program played a significant role in facilitating this transaction.

Players

LENDER

Details

FINANCED
IMAGE: Jake Dinov & John Collins DATE: 07/16/2021 ADDRESS: 900 Peninsula Corporate Circle MARKET: Boca Raton ASSET TYPE: Development Site LENDER: Navy Federal Credit Union, Florida First Capital Finance Corporation & SBA 504 Program LANDLORD: Boca Ice & Fine Arts Center - Jake Dinov, Hal Jacovitz & Mitch Robbins LOAN AMOUNT: $14,000,000 SF: 74,210 ACRES: 4.7

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,000,000.00

Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00