Longline Holdings Provides $46.25M Construction Loan For Retail Property In Poinciana
4730 Marigold Ave Poinciana, FL 34759, USA
$46,250,000
$201/SF
Building Size
230,000 SF
Asset Type
Retail
Closing
May 12, 2023
AI
4730 Marigold Avenue, located in Poinciana, is a retail property with a total area of 230,000 square feet. The property was recently involved in a closed transaction that took place on 05/12/2023.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $46,250,000
- Market: Poinciana
- Lender: Longline Holdings
- Landlord: TCII Capital (Jason Glaser, John Strzalka, Marc Lewin, and Spencer Enslein)
- Broker: Ian Coutts - ICC Associates
- Loan Type: Construction Loan
The deal involved TCII Capital as the landlord, with representatives Jason Glaser, John Strzalka, Marc Lewin, and Spencer Enslein. The lender, Longline Holdings, provided a construction loan of $46,250,000.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93