JDS Development Group Acquires Development Site In Miami For $43M Loan
FINANCED
$43,000,000
+ 5
Florida
See Similar DealsDevelopment Site200,000 SF
Financed 01/26/2021
FINANCED
JDS Development Group Acquires Development Site In Miami For $43M Loan
1133 Southwest 2nd Avenue, Miami, FL, USA
See Similar DealsDevelopment Site200,000 SF
Financed 01/26/2021
+ 5
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$215
Total Square Footage:200,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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