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1406 Withers Drive

Andrew Waldman Of 360 Capital Funding Refinances Development Site In Myrtle Beach For $14.55M
FINANCEDDevelopment Site

Andrew Waldman Of 360 Capital Funding Refinances Development Site In Myrtle Beach For $14.55M

1406 Withers Drive

$14,550,000

Building Size

Asset Type

Development Site

Closing

Feb 27, 2024

AI

The development site at 1406 Withers Drive in Myrtle Beach, SC, with a square footage of 800,000, was involved in a refinance loan transaction with a total amount of $14,550,000. The lender for this deal was Andrew Waldman from 360 Capital Funding, and the landlord was M Group Companies. David Eyzenberg from Eyzenberg & Company represented the transaction as the broker.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $14,550,000
  • Address: 1406 Withers Drive
  • Market: Myrtle Beach, SC
  • Asset Type: Development Site
  • Borrower: M Group Companies
  • Lender: Andrew Waldman - 360 Capital Funding
  • Broker: David Eyzenberg - Eyzenberg & Company

Andrew Waldman from 360 Capital Funding provided the loan of $14,550,000 as a refinance for the development site. M Group Companies, the landlord, initiated this transaction with the assistance of David Eyzenberg from Eyzenberg & Company, who represented the deal.

Players

David Eyzenberg

Eyzenberg & Company

Broker

$99.3M

vol

5 deals

Broker
360 Capital Funding
360 Capital FundingLender

Myrtle Beach 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

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93