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Trammell Crow Residential Acquires 8.95 Acre Mixed-Use Development Site In Miramar With $43.9M Construction Loan From U.S. Bank

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FINANCED
$43,900,000

Florida

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Development Site
Financed 11/16/2021
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FINANCED

Trammell Crow Residential Acquires 8.95 Acre Mixed-Use Development Site In Miramar With $43.9M Construction Loan From U.S. Bank

Miramar Parkway & Southwest 148th Avenue, Miramar, FL, USA

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Development Site
Financed 11/16/2021
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

A construction loan worth $43,900,000 has been secured for a mixed-use development located at Miramar Parkway & Southwest 148 Avenue in Miramar. The property spans 8.95 acres and is owned by Trammell Crow Residential, represented by Ron Terwilliger. The financing has been provided by U.S. Bank.

Summary of transaction details

  • Property Type: Mixed-use Development
  • Transaction Amount: $43,900,000
  • Address: Miramar Parkway & Southwest 148 Avenue
  • Market: Miramar
  • Acres: 8.95
  • Landlord: Trammell Crow Residential - Ron Terwilliger
  • Lender: U.S. Bank
  • Loan Type: Construction

Ron Terwilliger, representing Trammell Crow Residential, has facilitated the loan from U.S. Bank for the construction of the mixed-use development at Miramar Parkway & Southwest 148 Avenue. This transaction marks a significant milestone for the project, bringing it closer to fruition.

Players

U.S. Bank
U.S. Bank
LENDER
TR
Trammell Crow Residential
LANDLORD

Details

FINANCED
IMAGE: Ron Terwilliger DATE: 11/16/2021 ADDRESS: Miramar Parkway & Southwest 148 Avenue MARKET: Miramar ASSET TYPE: Mixed-use Development ~ ACRES: 8.95 LENDER: U.S. Bank LANDLORD: Trammell Crow Residential - Ron Terwilliger LOAN AMOUNT: $43,900,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$43,900,000.00

Monthly NOI$292,666.67
Monthly Debt Service$277,477.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00