Updated Oct 29, 2024
TUPPS Brewery Secures $11.3M Loan From The McKinney Community Development Corp For Development Project In McKinney
Dungan Street & Greenville Road, McKinney, TX, USA
$11,300,000
$452/SF
Building Size
25,000 SF
Asset Type
Development Site
Closing
Jul 29, 2020
About this deal
AI
The development property located at the intersection of Dungan Street and Greenville Road in McKinney, Texas was involved in a loan transaction on July 30, 2020. The borrower, TUPPS Brewery, secured a loan amount of $11,300,000 from The McKinney Community Development Corp, represented by Keith Lewis.
Summary of transaction details:
- Property Type: Development
- Transaction Amount: $11,300,000
- Address: Dungan Street & Greenville Road
- Market: McKinney
- Asset Type: Development
Keith Lewis, representing The McKinney Community Development Corp, served as the lender in this loan transaction. The development property spans across 25,000 square feet.
Players
McKinney 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
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93