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
957,420 SF
Asset Type
Condo
Closing
Jul 30, 2024
About this deal
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:
- Property Type: Condo
- Transaction Amount: $115,000,000
- Address: 1170-1180 East Hallandale Beach Boulevard
- Market: Hallandale Beach
- Lender: Peter Touhill - Benefit Street Partners
- Brokers: Michael Horowitz, Adam Horowitz & Jordan Horowitz - cooper-horowitz'>Cooper Horowitz
- Loan Type: Construction
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.
On the Map
$115,000,000
$60/SF
Condo
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Players
Hallandale Beach 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93