Adam America Real Estate, JW Capital Management, And ARBS Real Estate USA Holdings Secure $147M Construction Loan For Miami Student Housing. Lender: MSD Partners And AIG Asset Management
10726 Southwest 7th Street, Miami, FL 33174
$147,000,000
$6,149/SF
Building Size
23,904 SF
Asset Type
—
Closing
Jan 6, 2022
About this deal
AI
The student housing property located at 10726 Southwest Seventh Street in Miami is the subject of a recent loan transaction. The property spans 2.3 acres and consists of 1,201 beds and 932 units.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $147,000,000
- Address: 10726 Southwest Seventh Street, Miami
- Market: Miami
- Acres: 2.3
- Beds: 1,201
- Units: 932
MSD Partners, headed by Michael Dell, and AIG Asset Management provided the construction loan for the student housing property. The landlords involved in the deal include Adam America Real Estate represented by Omri Sachs and Dvir Cohen-Hoshen, JW Capital Management represented by Samuel Jesselson, Jason Warsavsky, and Michael Lytle, and ARBS Real Estate USA Holdings.
Players
Miami CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93