Updated Feb 16, 2024
Wells Fargo Provides $70.5M Loan For Little Havana Development Site
1001 Northwest 7th Street, Miami, FL 33136
$70,500,000
Units
700
Asset Type
Development Site
Closing
Jan 11, 2022
About this deal
AI
A development site located at 1001 NW 7th Street in Little Havana, Miami, has been involved in a recent transaction. The property spans over 6.3 acres and includes approximately 700 units. The transaction took place on January 11, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $70,500,000
- Address: 1001 NW 7th Street, Little Havana, Miami
- Market: Little Havana, Miami
- Units: 700
- Acres: 6.3
Wells Fargo provided a loan amount of $70,500,000 for this transaction. The landlord involved in this deal is Mast Capital, represented by Camilo Miguel Jr., and AEW Capital Management, represented by Jeff Furber.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93