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David Martin Of Terra, Kevin Venger And Louis Birdman Of One Thousand Group Secure $285M Construction Loan For Villa Miami Residences

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FINANCED
$285,000,000
Adam Schwartz
Aaron Appel
+ 3

Florida

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Condo299,200 SF
Financed 12/27/2024
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FINANCED

David Martin Of Terra, Kevin Venger And Louis Birdman Of One Thousand Group Secure $285M Construction Loan For Villa Miami Residences

710 Northeast 29th Street

See Similar Deals
Condo299,200 SF
Financed 12/27/2024
Adam Schwartz
Aaron Appel
+ 3
Contact now

Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$952
Total Square Footage:299,200 SF
Transaction Type:Loan

The property asset involved in this transaction is a condominium located at Villa Miami Residences, 710 Northeast 29th Street, in the Miami market. It encompasses a total square footage of 299,200 and is designated for construction financing. The loan amount secured for this project is $285,000,000.

Summary of transaction details:

The deal features key individuals including the lender, Adi Chugh, representing TYKO Capital. Additionally, the landlords involved are David Martin from Terra and the group consisting of Kevin Venger and Louis Birdman associated with One Thousand Group and Major Food Group. The brokers facilitating this transaction include Keith Kurland, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Jordan Casella, and Christopher de Raet from Walker & Dunlop.

Players

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Jordan Casella
Walker & Dunlop
18 deals$3.5B volume
BROKER

Christopher de Raet
Walker & Dunlop
23 deals$4.4B volume(240) 328-2590
BROKER

TYKO Capital
LENDER

Details

FINANCED
IMAGE: Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, David Martin, Jordan Casella, Adi Chugh, Christopher de Raet, Louis Birdman & Kevin Venger DATE: 12/27/2024 ADDRESS: Villa Miami Residences - 710 Northeast 29th Street MARKET: Miami ASSET TYPE: Condo ~ SF: 299,200 LENDER: Adi Chugh - TYKO Capital LANDLORD: David Martin - Terra (@TerraGroupMiami); Kevin Venger & Louis Birdman - One Thousand Group (@OneThousand_Group) & Major Food Group (@MajorFoodGroup) BROKERS: Keith Kurland (@KaKurland), Aaron Appel, Adam Schwartz (@AdamSchwartz88), Jonathan Schwartz (@JSchwa1386), Jordan Casella & Christopher de Raet - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $285,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$285,000,000.00

Monthly NOI$1,900,000.00
Monthly Debt Service$1,801,393.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00