Tuttle Land Development Secures $35.5M Loan For 41-Acre Development Site In Royal Palm Beach, Florida
FINANCED
$35,500,000
Florida
See Similar DealsDevelopment Site
Financed 10/19/2022
FINANCED
Tuttle Land Development Secures $35.5M Loan For 41-Acre Development Site In Royal Palm Beach, Florida
Royal Palm Beach, Florida
See Similar DealsDevelopment Site
Financed 10/19/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
Located on Main Street at Tuttle Royale in Royal Palm Beach, Florida, this 41-acre development site was recently involved in a closed transaction. Tuttle Land Development, led by Brian Tuttle, acted as the landlord in this deal. The property was represented by brokers Howard Taft and Charles Penan from Aztec Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $35,500,000
- Address: Main Street at Tuttle Royale, Royal Palm Beach, Florida
- Market: Royal Palm Beach, Florida
- Landlord: Tuttle Land Development - Brian Tuttle
- Brokers: Howard Taft & Charles Penan - Aztec Group
- Acreage: 41 acres
The deal involved a loan amount of $35,500,000. The specific terms and conditions of the loan were not provided in the available information. However, it is noteworthy that this transaction showcases the significant investment potential of this 41-acre development site in Royal Palm Beach, Florida.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,500,000.00
Monthly NOI$236,666.67
Monthly Debt Service$224,384.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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