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
About this deal
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.
On the Map
$239,400,000
Condo
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Players
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