Mack Real Estate Credit Strategies Provides $141M Construction Loan For Development Site On Kane Concourse In Bay Harbor Islands
FINANCED
$141,000,000
Florida
See Similar DealsDevelopment Site38,400 SF
Financed 01/06/2022
FINANCED
Mack Real Estate Credit Strategies Provides $141M Construction Loan For Development Site On Kane Concourse In Bay Harbor Islands
1177 96th Street, Bay Harbor Islands, FL 33154
See Similar DealsDevelopment Site38,400 SF
Financed 01/06/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$3,671
Total Square Footage:38,400 SF
Transaction Type:Loan
An undisclosed development site located at 1177 Kane Concourse in Bay Harbor Islands has been involved in a recent closed transaction. The property, characterized as a development site, was the subject of a loan provided by Mack Real Estate Credit Strategies. The loan, amounting to $141,000,000, was specifically a construction loan.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $141,000,000
Terra, represented by David Martin, acted as the landlord in this deal. No further details were provided regarding the seller or buyer involved in the transaction. The loan provided by Mack Real Estate Credit Strategies signifies their involvement as the lender. No additional information is available about other individuals or companies involved in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$141,000,000.00
Monthly NOI$940,000.00
Monthly Debt Service$891,215.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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