TD Bank Provides $99M Construction Loan For Development Site In North Miami Beach
16955 West Dixie Highway, North Miami Beach, Florida 33160, United States
$99,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 15, 2022
AI
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.
Players
North Miami Beach 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93