Webster Bank Provides $40M Loan For Development Site In Stuart, FL
Southeast Central Parkway, Stuart, Florida 34994, United States
$40,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 11, 2022
AI
A development site located on Southeast Central Parkway in Stuart, FL has recently undergone a loan transaction.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $40,000,000
- Date: 11/07/2022
- Market: Stuart, FL
The loan for the development site was provided by Webster Bank. The landlord of the property is Farrell Companies, represented by Joseph Farrell.
Joseph Farrell, from the Farrell Companies, acted as the representative for the landlord in the loan transaction.
Players
Stuart 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93