Updated Oct 29, 2024
Housing Trust Group Secures $29.2M Loan For Development Site In West Palm Beach
991 Banyan Boulevard, West Palm Beach, FL, USA
$29,200,000
Building Size
—
Asset Type
Development Site
Closing
Dec 17, 2020
About this deal
AI
A development site located at 991 Banyan Boulevard in West Palm Beach has been involved in a recent transaction. The property is owned by Housing Trust Group and was the subject of a deal facilitated by brokers Kyle Kolesar, Mimi Brennan, and Robbie Lynn from KeyBank. The transaction took place on December 18, 2020.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $29,200,000
- Address: 991 Banyan Boulevard, West Palm Beach
- Market: West Palm Beach
The deal involved a loan amount of $29,200,000. Kyle Kolesar, Mimi Brennan, and Robbie Lynn from KeyBank represented the parties involved in the transaction.
Players
West Palm Beach 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
0.54%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93