Updated Dec 12, 2024
Invesco Real Estate & Webster Bank Provide $76.8M Loan For Development Site In Philadelphia
9801 Blue Grass Road, Philadelphia, Pennsylvania 19114, United States
$76,800,000
$271/SF
Building Size
282,737 SF
Asset Type
Development Site
Closing
Sep 5, 2022
About this deal
AI
The development site located at 9801 Blue Grass Road in Philadelphia has been involved in a recent closed property transaction. The site spans 21.3 acres and has a building square footage (BSF) of 282,737.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $76,800,000
- Address: 9801 Blue Grass Road, Philadelphia
- Market: Philadelphia
- BSF: 282,737
- Acres: 21.3
In this transaction, the loan amount of $76,800,000 was provided by Invesco Real Estate and Webster Bank. The landlord of the property is DH Property Holdings. The brokers involved in the deal include Aaron Appel, Jonathan Schwartz, Keith Kurland, and Adam Schwartz from Walker & Dunlop.
Players
Philadelphia Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93