Lotus Capital Partners Facilitates $70M Acquisition Loan For Bay Harbor Islands Development Site
FINANCED
$70,000,000
Florida
See Similar DealsDevelopment Site41,700 SF
Financed 07/26/2022
FINANCED
Lotus Capital Partners Facilitates $70M Acquisition Loan For Bay Harbor Islands Development Site
10141 East Bay Harbor Drive
See Similar DealsDevelopment Site41,700 SF
Financed 07/26/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1,678
Total Square Footage:41,700 SF
Transaction Type:Loan
The development site located at 10141 E Bay Harbor Dr in Bay Harbor Islands has been involved in a recent loan transaction. The property spans approximately 41,700 square feet and has a buildable square footage (BSF) of 130,000. The loan amount for this transaction is $70,000,000, and it falls under the category of an acquisition loan.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $70,000,000
- Address: 10141 E Bay Harbor Dr
- Market: Bay Harbor Islands
- Asset Type: Development Site
- BSF: 130,000
- SF: 41,700
The loan for this transaction is provided by MSD Partners, with Adam Piekarski representing the lender in this deal. On the other hand, Ari Pearl from PPG and Jonathan Liefer from L3C are the landlords involved in this transaction. Faisal Ashraf, representing Lotus Capital Partners, acted as the broker for this loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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