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
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