Updated Dec 4, 2024
Three Leaf Partners Secures $59.85M Loan From Associated Bank Johnson Bank Greenwoods State Bank In Hartland
700 West Capitol Drive
$59,850,000
Units
267
Asset Type
Development Site
Closing
Oct 15, 2024
About this deal
AI
The transaction involves a development site located at 700 West Capitol Drive in Hartland, WI, which includes 267 residential units. The total loan amount secured for this project is $59,850,000, aimed at financing the Westrock Residences, set for completion in summer 2025.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $59,850,000
- Units: 267
- Lender: Associated Bank, Johnson Bank & Greenwoods State Bank
- Landlord: Three Leaf Partners
This development is backed by a collective financing effort from Associated Bank, Johnson Bank, and Greenwoods State Bank, indicating a significant investment in the residential sector. The landlord represented in this transaction is Three Leaf Partners, who will oversee the project as it progresses towards completion.
On the Map
$59,850,000
Development Site
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Players
Hartland 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93