Colliers Brokers Secure $11M Loan For Development Site On SW Second St In Downtown Fort Lauderdale
Southwest 2nd Street, Fort Lauderdale, Florida 33301, United States
$11,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 16, 2022
AI
A development site located on SW Second St in Downtown Fort Lauderdale has been involved in a closed transaction. The property, which is part of the market in Downtown Fort Lauderdale, was subject to a loan of $11,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Address: SW Second St
- Market: Downtown Fort Lauderdale
The transaction was facilitated by Colliers, with the loan being provided to the property by an undisclosed lender. Bradley Arendt, Tony Gannacone, and Mika Mattingly from Colliers represented the parties involved in the deal.
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93