Cerberus Real Estate Capital Provides $80M Acquisition Loan For Bal Harbour Condo
10245 Collins Avenue, Bal Harbour, Florida 33154, United States
$80,000,000
Units
88
Asset Type
Condo
Closing
Jul 4, 2022
About this deal
AI
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.
Players
Bal Harbour Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93