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444 New England Avenue

Grant Street Funding Provides $35.5M Acquisition Loan In Winter Park
FINANCEDMixed-use

Grant Street Funding Provides $35.5M Acquisition Loan In Winter Park

444 New England Avenue, 362 Pennsylvania Avenue, 400 New England Avenue, 430 New England Avenue, 433 New England Avenue, 463 New England Avenue, 535 New England Avenue, 558 New England Avenue & 402 Welborne Avenue

$35,500,000

$23/SF

Building Size

1,518,669 SF

Asset Type

Mixed-use

Closing

Jul 1, 2024

AI

The mixed-use property located at 444 W New England Ave; 362 S Pennsylvania Ave; 400, 430, 433, 463, 535, 558 West New England Ave; 402 West Welbourne Ave in Winter Park spans 168,741 square feet. The property was acquired with an Acquisition Loan amounting to $35,500,000 from Grant Street Funding. The landlords of the property are Corey Dean, Seth Heller, and Mary Demetree of Demetree Global. The transaction was facilitated by brokers Brian Gaswirth, Paul Adams, and Chevalier (Val) McWilliams from JLL.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $35,500,000
  • Address: 444 W New England Ave; 362 S Pennsylvania Ave; 400, 430, 433, 463, 535, 558 West New England Ave; 402 West Welbourne Ave
  • Market: Winter Park
  • Lender: Grant Street Funding
  • Landlords: Corey Dean, Seth Heller, Mary Demetree - Demetree Global
  • Brokers: Brian Gaswirth, Paul Adams, Chevalier (Val) McWilliams - JLL

The key individuals involved in the deal include Paul Adams, Seth Heller, Brian Gaswirth, Mary Demetree, Chevalier McWilliams, and Corey Dean. These individuals played significant roles in the successful acquisition of the mixed-use property, showcasing their expertise and contribution to the real estate transaction.

Players

Brian Gaswirth

JLL

Broker

$6.3B

vol

45 deals

Broker
Grant Street Funding
Grant Street FundingLender

Winter Park Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93