Related Group Secures $91.3M Construction Loan For Pompano Beach Condo
1116 North Ocean Boulevard, Pompano Beach, FL, USA
$91,300,000
$22,593/SF
Building Size
4,041 SF
Asset Type
—
Closing
Sep 17, 2021
About this deal
AI
The property involved in this transaction is a condo located at 1116 North Ocean Boulevard in Pompano Beach. The asset, owned by Related Group, was part of a construction loan provided by CIBC Bank in the amount of $91,300,000.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $91,300,000
- Market: Pompano Beach
- Lender: CIBC Bank
- Landlord: Related Group
Notable individuals involved in the deal include Jon Paul Pérez, Jeff Blau, Jorge Perez, Stephen Ross, and Nick Pérez.
The commercial loan at 1116 North Ocean Boulevard, Pompano Beach, FL, USA in Pompano Beach, Florida financed for $91.3M in 2021. The building is 4,041 square feet, implying about 22.6K per square foot on the published price. This page is the Pompano Beach, Florida file for the 1116 North Ocean Boulevard, Pompano Beach, FL, USA commercial financed: pricing, party profiles, and other closed commercial comps from the same Pompano Beach sit in the Market section below. Filter that Pompano Beach commercial set by closing date to see what else financed near 1116 North Ocean Boulevard, Pompano Beach, FL, USA around 2021. Published consideration for 1116 North Ocean Boulevard, Pompano Beach, FL, USA is $91.3M, dated 2021. Cite this Related Group Secures $91.3M Construction Loan For Pompano Beach Condo loan when underwriting similar commercial product around Pompano Beach, Florida.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93