AHS Residential Acquires Homestead Development Site For $27M Loan From Santander Bank
FINANCED
$27,000,000
Florida
See Similar DealsDevelopment Site
Financed 04/07/2022
FINANCED
AHS Residential Acquires Homestead Development Site For $27M Loan From Santander Bank
Southwest 288th Street, Homestead, Florida 33033, United States
See Similar DealsDevelopment Site
Financed 04/07/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The development site, located at the northeast corner of Southwest 288th Street & Southwest 142nd Avenue in Homestead, was recently involved in a closed property transaction. The property spans across 9.8 acres and comprises 216 units.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $27,000,000
- Address: Northeast Corner of Southwest 288th Street & Southwest 142nd Avenue
- Market: Homestead
- Units: 216
- Acres: 9.8
The lender for this transaction was Santander Bank, providing a construction loan of $27,000,000. AHS Residential represented the landlord, Ernesto Lopes, in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,000,000.00
Monthly NOI$180,000.00
Monthly Debt Service$170,658.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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