DAZ Development Secures $6.4M Construction Loan For Resort Property In Davenport
Old Lake Wilson Rd, Davenport, FL, USA
$6,400,000
$3,340/SF
Building Size
1,916 SF
Asset Type
Other
Closing
Aug 25, 2021
About this deal
AI
The resort property located at 7800 Old Lake Wilson Rd in Davenport has been involved in a closed transaction. The loan for this property was provided by LV Lending, with Camilo Niño, Ricardo Uribe, and Alen Hernandez representing the lender. The loan, amounting to $6,400,000, was a construction loan. The property consists of 126 units and is owned by DAZ Development, with Constantinos Zavos as the landlord.
Summary of transaction details
- Property Type: Resort
- Transaction Amount: $6,400,000
- Address: 7800 Old Lake Wilson Rd
- Market: Davenport
- Lender: LV Lending - Camilo Niño, Ricardo Uribe & Alen Hernandez
- Landlord: DAZ Development - Constantinos Zavos
- Loan Type: Construction Loan
- Units: 126
Constantinos Zavos, the landlord of the property, represents DAZ Development in this closed transaction. The loan was facilitated by LV Lending, with Camilo Niño, Ricardo Uribe, and Alen Hernandez acting as the lenders' representatives. This construction loan was executed to fund the development of the resort property located in Davenport. The transaction involved a total of 126 units, and the loan amount secured for this project was $6,400,000.
Players
Davenport Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93