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JLL Secures $98.4M Construction Loan For 389-Unit Development Site In Charlotte, NC
FINANCED
$98,400,000
North Carolina
See Similar DealsDevelopment Site13,751 SF
Financed 01/18/2024
FINANCED
JLL Secures $98.4M Construction Loan For 389-Unit Development Site In Charlotte, NC
2125 North Davidson Street
See Similar DealsDevelopment Site13,751 SF
Financed 01/18/2024
Summary
NORTH CAROLINA
Asset Type:Development Site
Price Per Square Foot:$7,155
Total Square Footage:13,751 SF
Transaction Type:Loan
A $98.4 million construction loan has been secured by JLL Capital Markets for the development of 2125 N Davidson in Charlotte's Mill District. The project is a mid-rise multi-housing development with ground-floor retail, offering a total of 389 units. The property is located at 2125 North Davidson Street and spans approximately 13,751 square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $98,400,000
- Address: 2125 North Davidson Street
- Market: Charlotte, NC
- Size: 13,751 square feet
- Units: 389
The brokers representing the transaction are Cory Fowler, Ryan Pride, and Travis Anderson from JLL.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$98,400,000.00
Monthly NOI$656,000.00
Monthly Debt Service$621,954.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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