LV Lending Provides $26.7M Construction Loan For Mixed-Use Development In Davenport
7007 Osceola Polk Line Road
$26,700,000
$55/SF
Building Size
485,760 SF
Asset Type
Mixed-use
Closing
Mar 17, 2023
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 7007 Osceola Polk Line Road in Davenport. The transaction took place on March 17, 2023. The property is owned by United Network Capital Group, represented by Robert Thorne. The lender in this transaction is LV Lending, represented by Camilo Nino, Ricardo Uribe, and Alen Hernandez. The total loan amount for this transaction is $26,700,000, and it is classified as a construction loan.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $26,700,000
- Lender: LV Lending - Camilo Nino, Ricardo Uribe, Alen Hernandez
- Landlord: United Network Capital Group - Robert Thorne
Camilo Nino, Ricardo Uribe, and Alen Hernandez from LV Lending facilitated the loan for this transaction, while Robert Thorne represented United Network Capital Group as the landlord. This transaction involved a construction loan, indicating that the property is undergoing development or renovation.
On the Map
$26,700,000
$55/SF
Mixed-use
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Players
Market 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93