Updated Oct 28, 2024
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
$43,900,000
Building Size
—
Asset Type
Development Site
Closing
Nov 16, 2021
About this deal
AI
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
Miramar Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93