Colliers Brokers Secure $11M Loan For Development Site On SW Second St In Downtown Fort Lauderdale
FINANCED
$11,000,000
Florida
See Similar DealsDevelopment Site
Financed 03/17/2022
FINANCED
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
See Similar DealsDevelopment Site
Financed 03/17/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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