Tom Brady Secures $35M Loan From Citizens Bank For Indian Creek Village Estate
26 Indian Creek Island Road
$35,000,000
Building Size
—
Asset Type
Single Family
Closing
Jul 10, 2024
AI
The single-family property located at 26 Indian Creek Island Road in Indian Creek Village sits on 2 acres of waterfront land. Tom Brady, the landlord, secured a $35 million loan from Citizens Bank for ongoing construction, including a gym, sport court, waterfront pool, and multi-car garage.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $35,000,000
- Address: 26 Indian Creek Island Road
- Market: Indian Creek Village
- Lender: Citizens Bank
- Landlord: Tom Brady
- Loan Amount: $35,000,000
The loan, secured by Tom Brady from Citizens Bank, replaced a previous loan from J.P. Morgan Bank and features a lower initial interest rate of 5.63%. This financial support aids in the development of the estate, enhancing its value with luxury amenities.
Players
Indian Creek Village Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93