Cerberus Real Estate Capital Provides $80M Acquisition Loan For Bal Harbour Condo
FINANCED
$80,000,000
Florida
See Similar DealsCondo
Financed 07/04/2022
FINANCED
Cerberus Real Estate Capital Provides $80M Acquisition Loan For Bal Harbour Condo
10245 Collins Avenue, Bal Harbour, Florida 33154, United States
See Similar DealsCondo
Financed 07/04/2022
Summary
FLORIDA
Asset Type:Condo
Transaction Type:Loan
The Condo property located at 10245 Collins Avenue in Bal Harbour has been involved in a recent closed transaction. The property consists of 88 units and is known for its prime location in the Bal Harbour market.
Summary of transaction details
- Property Type: Condo
- Transaction Date: 04/07/2022
- Address: 10245 Collins Avenue
- Market: Bal Harbour
- Units: 88
Cerberus Real Estate Capital served as the lender for this transaction. The loan amount secured for the acquisition of the property was $80,000,000. This acquisition loan facilitated the purchase of the Condo property at 10245 Collins Avenue in Bal Harbour. The loan was obtained from Cerberus Real Estate Capital to support the buyer's acquisition of the property.
The landlord involved in this transaction is Related Group, represented by Jorge M. Pérez and Two Roads Development. Their involvement in this deal showcases their role as the landlords of the Condo property at 10245 Collins Avenue in Bal Harbour.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,000,000.00
Monthly NOI$533,333.33
Monthly Debt Service$505,654.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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