Chase Bank Provides $84M Construction Loan For Mixed-Use Property On North Tryon Street In Charlotte, NC
FINANCED
$84,000,000
North Carolina
See Similar DealsMixed-use330 SF
Financed 01/19/2023
FINANCED
Chase Bank Provides $84M Construction Loan For Mixed-Use Property On North Tryon Street In Charlotte, NC
426 North Tryon Street, Charlotte, North Carolina 28202, United States
See Similar DealsMixed-use330 SF
Financed 01/19/2023
Summary
NORTH CAROLINA
Asset Type:Mixed-use
Price Per Square Foot:$254,545
Total Square Footage:330 SF
Transaction Type:Loan
The property involved in this closed transaction is a mixed-use asset located at 426 North Tryon Street in Charlotte, NC. It comprises 353 units and spans a total of 330,000 square feet. The transaction took place on January 19, 2023, and the property was financed through a construction loan provided by Chase Bank. The loan amount for this transaction was $84,000,000.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $84,000,000
- Address: 426 North Tryon Street, Charlotte, NC
- Units: 353
- Square Footage: 330,000
- Lender: Chase Bank
The property is owned by Urban Atlantic & Horizon Development Properties. Please note that no additional information about the individuals or companies involved in the transaction is available.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$84,000,000.00
Monthly NOI$560,000.00
Monthly Debt Service$530,937.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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