Updated Oct 28, 2024
Tuttle Land Development Secures $35.5M Loan For 41-Acre Development Site In Royal Palm Beach, Florida
Royal Palm Beach, Florida
$35,500,000
Building Size
—
Asset Type
Development Site
Closing
Oct 18, 2022
About this deal
AI
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.
On the Map
$35,500,000
Development Site
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Players
Royal 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93