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
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