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CGI Merchant Group Secures $101.9M Loan From Madison Realty Capital For Hotel And Office Properties In Downtown Miami And Coconut Grove

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FINANCED
$101,900,000
Zachary Oppenheim
Marci DeClaris
Madison Roberts
+ 5

Florida

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2,081 SF
Financed
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FINANCED

CGI Merchant Group Secures $101.9M Loan From Madison Realty Capital For Hotel And Office Properties In Downtown Miami And Coconut Grove

1100 Biscayne Boulevard, Miami, Florida 33132, United States

See Similar Deals
2,081 SF
Financed
Zachary Oppenheim
Marci DeClaris
Madison Roberts
+ 5
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Price Per Square Foot:$48966
Total Square Footage:2081 SF
Transaction Type:Loan

Two properties, a hotel and an office, have been involved in a recent transaction in Downtown Miami and Coconut Grove. The hotel, located at 1100 Biscayne Boulevard, consists of 129 keys, while the office, located at 3480 Main Street, spans a total of 54,862 square feet. The deal took place on 02/22/2022.

Summary of transaction details:

  • Property Type: Hotel
  • Property Type: Office
  • Market: Downtown Miami
  • Market: Coconut Grove
  • Loan Amount: $101,900,000

The lender for this transaction was Madison Realty Capital, represented by Josh Zegen. The landlord, CGI Merchant Group, was represented by Raoul Thomas. Surya Capital Partners, represented by Adi Chugh, acted as the broker involved in the deal.

Players

Darin Feldman
Darin Feldman
12 deals$125M volume
BROKER
Adi Chugh
TYKO Capital
Adi Chugh
21 deals$4.3B volume
BROKER
Paola Marulanda
Sotheby's International Realty
Paola Marulanda
6 deals$130.8M volume
BROKER
Dan Hechtkopf
Douglas Elliman
Dan Hechtkopf
13 deals$172.8M volume
BROKER
Madison Roberts
Madison Roberts
3 deals$116.3M volume
BROKER
Marci DeClaris
Douglas Elliman
Marci DeClaris
10 deals$159.6M volume
BROKER
Zachary Oppenheim
Zachary Oppenheim
2 deals$109.1M volume
BROKER
Madison Realty Capital
Madison Realty Capital
LENDER
Raoul Thomas
Raoul Thomas
4 deals$533.9M volume
LANDLORD

Details

FINANCED
IMAGE: Raoul Thomas, Josh Zegen & Adi Chugh DATE: 02/22/2022 ADDRESS: 1100 Biscayne Boulevard & 3480 Main Street MARKET: Downtown Miami & Coconut Grove ASSET TYPE: Hotel ~ KEYS: 129 & Office ~ SF: 54,862 LENDER: Madison Realty Capital (@MadisonRealtyCapital) - Josh Zegen (@JZegen) LANDLORD: CGI Merchant Group - Raoul Thomas BROKER: Surya Capital Partners - Adi Chugh LOAN AMOUNT: $101,900,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$101,900,000.00

Monthly NOI$679,333.33
Monthly Debt Service$644,077.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00