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
$84,000,000
$254,545/SF
Building Size
330 SF
Asset Type
Mixed-use
Closing
Jan 19, 2023
AI
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.
Players
Charlotte Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93