Three Leaf Partners Secures $59.85M Loan From Associated Bank Johnson Bank Greenwoods State Bank In Hartland
700 West Capitol Drive
$59,850,000
Building Size
—
Asset Type
Development Site
Closing
Oct 15, 2024
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.
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