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1170 East Hallandale Beach ...

Peter Touhill Of Benefit Street Partners Provides $115 Million Construction Loan For Hallandale Beach Condo
FINANCEDCondo

Peter Touhill Of Benefit Street Partners Provides $115 Million Construction Loan For Hallandale Beach Condo

1170 East Hallandale Beach Boulevard & 1180 East Hallandale Beach Boulevard

$115,000,000

$60/SF

Building Size

1,914,840 SF

Asset Type

Condo

Closing

Jul 30, 2024

AI

The property asset involved in this transaction is a condominium located at 1170-1180 East Hallandale Beach Boulevard in the Hallandale Beach market. It has a total square footage of 957,420 and is associated with a construction loan amounting to $115,000,000.

Summary of transaction details:

The key individuals involved in this deal include lender Peter Touhill, representing Benefit Street Partners, as well as brokers Michael Horowitz, Adam Horowitz, and Jordan Horowitz, who are associated with Cooper Horowitz. Their roles have been instrumental in facilitating this transaction.

Players

Michael Horowitz

Cooper Horowitz

Broker

$1.1B

vol

25 deals

Broker
Benefit Street Partners Realty
Benefit Street Partners RealtyLender

Hallandale Beach Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93