Updated Dec 4, 2024
Toro Development Co Secures $560 Million Construction Loan From Banco Inbursa For Medley Project
Mcginnis Ferry Rd
$560,000,000
$3,733/SF
Building Size
150,000 SF
Asset Type
Development Site
Closing
Nov 7, 2024
About this deal
AI
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
Suwanee Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93