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1400 Biscayne Boulevard

Related Group And Atla Developers Secure $239.4M Construction Loan For Miami Condo On Biscayne Boulevard
FINANCEDCondo

Related Group And Atla Developers Secure $239.4M Construction Loan For Miami Condo On Biscayne Boulevard

1400 Biscayne Boulevard

$239,400,000

Building Size

Asset Type

Condo

Closing

Nov 15, 2023

AI

The property involved in this transaction is a condominium located at 1400 Biscayne Boulevard in Miami. The asset type is a condo, and it was acquired as part of a closed deal.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $239,400,000
  • Address: 1400 Biscayne Boulevard
  • Market: Miami

The lenders involved in this deal were Cain International, represented by Jonathan Goldstein, and Eldridge, represented by Todd Boehly. The loan amount for the transaction was $239,400,000, and the loan type was construction.

The landlords in this transaction were Related Group, represented by Jorge Perez, JP Perez, and Nick Perez, as well as Atla Developers, represented by Henry Pino. The landlord's representatives were Dustin Stolly and Jordan Roeschlaub from Newmark.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Cain International
Cain InternationalLender
Jorge Pérez

Jorge Pérez

Related Group

Landlord

$2.2B

vol

27 deals

Landlord
Related Group
Related GroupLandlord

Miami 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

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93