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Toro Development Co Secures $560 Million Construction Loan From Banco Inbursa For Medley Project

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FINANCED
$560,000,000

Georgia

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Development Site150,000 SF
Financed 11/07/2024
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Property Image
FINANCED

Toro Development Co Secures $560 Million Construction Loan From Banco Inbursa For Medley Project

Mcginnis Ferry Rd

See Similar Deals
Development Site150,000 SF
Financed 11/07/2024
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Summary

GEORGIA
Asset Type:Development Site
Price Per Square Foot:$3,733
Total Square Footage:150,000 SF
Transaction Type:Loan

The property asset involved in this transaction is a development site in Johns Creek, GA, encompassing a total area of 150,000 square feet. The loan secured by Toro Development Co amounts to $560 million dedicated to a mixed-use project named Medley, which is scheduled to commence construction in December.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $560,000,000
  • Lender: Banco Inbursa
  • Landlord: Toro Development Co
  • Loan Amount: $158,000,000
  • Loan Type: Construction
  • Equity Partner: Ascentris

The key individuals involved in this transaction include Toro Development Company, which is responsible for securing the financing necessary for the project. Banco Inbursa is the lender providing the construction loan, while Ascentris contributes equity to the financing effort for the Medley mixed-use project.

Players

LENDER

Details

FINANCED
IMAGE: 11/07/2024 MARKET: Johns Creek, GA ASSET TYPE: Development Site ~ SF: 150,000 LENDER: Banco Inbursa LANDLORD: Toro Development Co LOAN AMOUNT: $560,000,000 LOAN TYPE: Construction NOTE: Toro Development Company secured financing, including equity from Ascentris and a $158 million construction loan from Banco Inbursa, for its $560 million Medley mixed-use project in Johns Creek, set to break ground in December.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$560,000,000.00

Monthly NOI$3,733,333.33
Monthly Debt Service$3,539,580.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00