Hector Castro Secures $5.89M Construction Loan For Development Site In Port Labelle Fort Myers
9030 Green Circle, LaBelle, Florida 33935, United States
$5,890,000
$140/SF
Building Size
42,000 SF
Asset Type
Development Site
Closing
Feb 23, 2022
AI
A development site located at 9030 Green Circle in Port Labelle, Fort Myers has been involved in a recent transaction. The property spans approximately 42,000 square feet with a building square footage of 3,100,000. The transaction took place on February 24, 2022, as shown in the image shared by Hector Castro on Instagram.
Summary of transaction details
- Property Type: Development Site
- Market: Port Labelle, Fort Myers
- Address: 9030 Green Circle
- Loan Amount: $5,890,000
- Loan Type: Construction Loan
- Loan Terms: 31 Single Family Ground Up Construction, 85% Loan to Cost Loan, Interest Only
Hector Castro from Equity Lending Solutions provided the loan for this transaction. The loan amount of $5,890,000 was secured for the development site. The loan type is a construction loan and the terms include 31 single-family ground-up constructions with an 85% loan-to-cost loan and interest-only payments.
Players
Labelle Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93