Updated Mar 6, 2026
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
$141,000,000
$3,671/SF
Building Size
38,400 SF
Asset Type
Development Site
Closing
Jan 6, 2022
About this deal
AI
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
Bay Harbor Islands 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93