Genx Capital Partners Provides $9M Debt-Equity Combination Loan For Miami Beach Package Deal
1018 Jefferson Avenue
$9,000,000
$600/SF
Building Size
15,000 SF
Asset Type
—
Closing
Dec 14, 2022
About this deal
AI
1018 Jefferson Avenue & 1545 Meridian Avenue in Miami Beach has been involved in a package deal transaction. The property spans approximately 15,000 square feet, presenting a valuable opportunity for investors. The deal was closed on 12/14/2022.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $9,000,000
- Loan Type: Debt-Equity Combination
- Lender: Genx Capital Partners - Mark McClure
- Landlord: Neal Deputy
The key individuals in this transaction include Mark McClure from Genx Capital Partners, who acted as the lender, and Neal Deputy, who served as the landlord. The loan amount for this deal was $9,000,000, and it involved a debt-equity combination.
Players
Miami Beach CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93