Terra Group And JDS Secure $98 Million Acquisition Loan For Development Site In Miami Beach
FINANCED
$98,000,000
+ 6
Florida
See Similar DealsDevelopment Site
Financed 08/29/2025
FINANCED
Terra Group And JDS Secure $98 Million Acquisition Loan For Development Site In Miami Beach
1250 West Avenue
See Similar DealsDevelopment Site
Financed 08/29/2025
+ 6
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 1250 West Avenue, Miami Beach, FL. The transaction involves a loan amount of $98,000,000, structured as an acquisition loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $98,000,000
- Lender: Northwind Group
- Landlord: Terra Group - David Martin & JDS - Michael Stern
- Brokers: Aaron Appel, Sean Bastian, Michael Diaz, Keith Kurland & Jonathan Schwartz - Walker & Dunlop
The transaction features key participants including David Martin representing Terra Group and Michael Stern from JDS, both involved as landlords in this deal. The brokers facilitating the transaction are Aaron Appel, Sean Bastian, Michael Diaz, Keith Kurland, and Jonathan Schwartz from Walker & Dunlop, working on behalf of the involved parties.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$98,000,000.00
Monthly NOI$653,333.33
Monthly Debt Service$619,426.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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