Updated Oct 28, 2024
Churchill Real Estate Provides $37.5M Construction Loan For Dallas Development Site
599 West Princeton Drive, Princeton, Texas 75407, United States
$37,500,000
$153/SF
Building Size
245,000 SF
Asset Type
Development Site
Closing
Dec 23, 2021
About this deal
AI
Jeff Rosenfeld & Sean Robertson of Churchill Real Estate recently closed a construction loan deal for a development site located at 599 West Princeton Drive in Dallas. The development site spans 245,000 square feet and is owned by JMD Acquisitions.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $37,500,000
- Loan Type: Construction Loan
- Loan Terms: Non-recourse, 24 Month Term
Churchill Real Estate, represented by Jeff Rosenfeld and Sean Robertson, provided the $37,500,000 construction loan for the development site. The loan has a non-recourse structure and a term of 24 months. Please contact Jeff Rosenfeld at [email protected] or Sean Robertson at [email protected] for more information about Churchill's ground-up, multi-family opportunities across the country.
Players
Princeton 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93