TD Bank Provides $99M Construction Loan For Development Site In North Miami Beach
FINANCED
$99,000,000
Florida
See Similar DealsDevelopment Site
Financed 08/16/2022
FINANCED
TD Bank Provides $99M Construction Loan For Development Site In North Miami Beach
16955 West Dixie Highway, North Miami Beach, Florida 33160, United States
See Similar DealsDevelopment Site
Financed 08/16/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The development site located at 16955-17071 West Dixie Highway in North Miami Beach has been involved in a recent transaction. The property spans across 4 acres and consists of 373 units. The market value of this development site is yet to be disclosed.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $99,000,000
- Address: 16955-17071 West Dixie Highway, North Miami Beach
- Units: 373
- Acres: 4
TD Bank has provided a loan of $99,000,000 for the development site. The loan type is a construction loan. Trinsic Residential Group, represented by Brian Tusa, acts as the landlord for this property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$99,000,000.00
Monthly NOI$660,000.00
Monthly Debt Service$625,747.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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