Updated Dec 4, 2024
Giuseppe Iadisernia Secures $85 Million Loan From Franklin BSP Realty Trust For Oasis Hallandale Development
1100 East Hallandale Beach Boulevard
$85,000,000
Units
250
Asset Type
Development Site
Closing
Aug 9, 2024
About this deal
AI
The property involved in the transaction is a development site located at 1100 East Hallandale Beach Boulevard, situated in the Hallandale Beach market. This site encompasses 10.1 acres and is designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $85,000,000
- Lender: Franklin BSP Realty Trust
- Landlord: Giuseppe Iadisernia - Hallandale Oasis 2019 LLC
- Loan Type: Construction
- Current Project: 25-story, 250-unit West Tower at the Oasis Hallandale development
- Current Sales Status: 75% sold
- Commercial Tenants: Oasis Fit and Oasis Dental
- Future Development: Second condo tower planned to break ground next year
The key individuals involved in this transaction include developer Giuseppe Iadisernia, who is associated with Hallandale Oasis 2019 LLC. Franklin BSP Realty Trust is the lender facilitating the $85 million construction loan for completing the ongoing development project.
On the Map
$85,000,000
Development Site
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Players
Hallandale Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93