JDS Development Group Acquires Development Site In Miami For $43M Loan
1133 Southwest 2nd Avenue, Miami, FL, USA
$43,000,000
$215/SF
Building Size
200,000 SF
Asset Type
Development Site
Closing
Jan 25, 2021
AI
Atalaya Capital has provided a loan of $43,000,000 for a development site in Miami. The property is located at 1133 SW 2nd Avenue & 191 SW 12th Street. The loan terms are fixed-rate and interest-only.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $43,000,000
- Lender: Atalaya Capital
- Landlord: JDS Development Group - Michael Stern
- Brokers: Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Michael Ianno, Sean Bastian & Ian Hawk - Walker & Dunlop
The deal was facilitated by brokers Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Michael Ianno, Sean Bastian, and Ian Hawk from Walker & Dunlop. They played a key role in connecting the borrower and the lender for this loan transaction.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93