S3 Capital & Arion Fund Provide $6.8M Loan For Coral Gables Development Site
1715 Southwest 37th Avenue, Coral Gables, Florida, USA
$6,800,000
$73/SF
Building Size
92,528 SF
Asset Type
Development Site
Closing
Aug 31, 2021
AI
A development site located at 1715 SW 37th Ave in Coral Gables, FL was recently involved in a closed property transaction. The site spans approximately 92,528 square feet and is categorized as a Development Site. The transaction took place on 08/31/2021 in the Coral Gables market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,800,000
- Lender: S3 Capital & Arion Fund
- Landlord: Francisco Espinosa - BEC Group
- Brokers: Alena Grummons & Michael Korine - Berko & Associates
The loan obtained for this transaction amounted to $6,800,000, and it involved a combination of an acquisition and development financing loan for the Coral Gables development site. Additionally, a cash-out loan was also provided for a portfolio of investment properties in Miami.
Players
Miami 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93