Updated Apr 3, 2025
Cymbal Development Secures $60M Loan From 3650 REIT For Development Site In Dania Beach
150 South Bryan Road, Dania Beach, FL, USA
$60,000,000
$566/SF
Building Size
105,850 SF
Asset Type
Development Site
Closing
Dec 20, 2020
About this deal
AI
The development site located at 150 S. Bryan Road in Dania Beach has been involved in a loan transaction. The loan, provided by 3650 REIT, amounted to $60,000,000. The loan terms include a fixed interest rate throughout the 42-month loan term and an 80 percent loan-to-cost ratio.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $60,000,000
- Lender: 3650 REIT
- Landlord: Cymbal Development
- Broker: Aztec Group
Aztec Group acted as the broker in this loan transaction. They represented the parties involved, including Cymbal Development as the landlord. Asi Cymbal and Edward Moore are featured in the Instagram image associated with this transaction.
Players
Dania 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93