Home Development Inc Secures $44M Loan For Meadows At Pearson Springs Development In Maryville TN
Carpenters Grade Road
$44,000,000
$440,000/SF
Building Size
100 SF
Asset Type
Development Site
Closing
Sep 26, 2025
AI
The asset involved in this transaction is a development site for a 100-unit townhome community located in Maryville, TN. The total loan amount secured for this project is $44,000,000, arranged as revolving construction financing.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $44,000,000
- Landlord: Home Development Inc
- Broker: Justin Neelis - Concord Summit Capital
This transaction showcases the collaboration between Home Development Inc, the developer, and Concord Summit Capital, which facilitated the financing arrangement. Justin Neelis represented Concord Summit Capital in the deal, enabling the funding necessary for the construction of the townhome community.
Players
Maryville 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93