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Churchill Real Estate Provides $35M Construction Loan For Multi-Family Development In Kissimmee, FL

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FINANCED
$35,000,000
Max La Cava
Drew Jennewein
Brian Gaswirth

Florida

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MultiFamily240,000 SF
Financed 02/17/2022
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FINANCED

Churchill Real Estate Provides $35M Construction Loan For Multi-Family Development In Kissimmee, FL

Old Vineland Road

See Similar Deals
MultiFamily240,000 SF
Financed 02/17/2022
Max La Cava
Drew Jennewein
Brian Gaswirth
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$145
Total Square Footage:240,000 SF
Transaction Type:Loan

Located on Old Vineland Road in Kissimmee, FL, this multi-family property spans over 240,000 square feet. The property was acquired by a Miami-based developer.

Summary of transaction details:

  • Property Type: Multi-Family
  • Transaction Amount: $35,000,000
  • Address: Old Vineland Road, Kissimmee, FL
  • Market: Kissimmee, FL

The loan for this property was provided by Churchill Real Estate in the form of a $35,000,000 construction loan. Jeff Rosenfeld and Sean Robertson, representatives from Churchill Real Estate, facilitated the loan. Max La Cava and Brian Gaswirth, brokers from JLL, represented the parties involved in the transaction.

Churchill Real Estate is known for its active involvement in providing stretch-senior construction loans in the Build-to-Rent space. For loan inquiries, you can reach out to Jeff Rosenfeld at [email protected] or Sean Robertson at [email protected].

Players

Brian Gaswirth
JLL
Brian Gaswirth
45 deals$6.3B volume(305) 421-6554
BROKER
Drew Jennewein
JLL
Drew Jennewein
5 deals$241.8M volume
BROKER
Max La Cava
JLL
Max La Cava
44 deals$1.5B volume(917) 825-7346
BROKER
Churchill Real Estate
Churchill Real Estate
LENDER

Details

FINANCED
IMAGE: Max La Cava, Jeff Rosenfeld, Sean Robertson & Brian Gaswirth DATE: 02/18/2022 ADDRESS: Old Vineland Road MARKET: Kissimmee, FL ASSET TYPE: Multi Family ~ SF: 240,000 LENDER: Jeff Rosenfeld & Sean Robertson - Churchill Real Estate LANDLORD: Miami Based Developer BROKERS: Max La Cava & Brian Gaswirth - (JLL) LOAN AMOUNT: $35,000,000 LOAN TYPE: Construction Loan NOTE FROM LENDER: Churchill Real Estate continues to be active in providing stretch-senior construction loans in the Build-to-Rent space. Jeff Rosenfeld: Co-Head Originations ([email protected]) Sean Robertson: Co-Head Originations ([email protected])

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,000,000.00

Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00