Bank Of Montreal Provides $80 Million Loan For Development Site In Fort Lauderdale Landlord Jeff Burns
2125 South Andrews Avenue
$80,000,000
Units
400
Asset Type
Development Site
Closing
Mar 19, 2025
AI
The asset involved in this transaction is a development site located at 2125 South Andrews Avenue in Fort Lauderdale. The loan amount for this property is $80,000,000.00, secured from the Bank of Montreal (BOM).
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $80,000,000.00
- Market: Fort Lauderdale
- Lender: Bank of Montreal (BOM)
- Landlord: Jeff Burns & Nick Rojo - Affiliated Development
This deal highlights the collaboration between Jeff Burns, representing Affiliated Development, and the Bank of Montreal as the lender, facilitating the financing for this development site acquisition.
Players
Fort Lauderdale 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93