Synovus Bank Provides $21.47M Construction Loan To SageStone Development In Plantation
1019 State Road 7, Plantation, Florida 33313, United States
$21,470,000
Building Size
—
Asset Type
Office
Closing
Mar 2, 2022
About this deal
AI
Located at 1019 South State Road 7 in Plantation, this 5.8 acre office property was involved in a recent transaction. The transaction took place on 03/03/2022 and the property is owned by SageStone Development Partners. The asset type is an office space, making it suitable for professional use.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $21,470,000
- Loan Type: Construction Loan
- Lender: Synovus Bank - Kevin Blair
- Landlord: SageStone Development Partners
The lender for this transaction was Synovus Bank, represented by Kevin Blair. They provided a construction loan of $21,470,000 for the development of the office property. The landlord, SageStone Development Partners, was involved in the deal as the property owner.
Players
Lauderhill Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93