JP Morgan Provides $87.5 Million Acquisition Loan For Development Site In Sunny Isles Beach

The asset involved in this transaction is a development site located at 19051 Collins Avenue in Sunny Isles Beach. The loan amount for the acquisition is $87,500,000, structured as a two-year, floating-rate loan with a one-year extension option.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $87,500,000
• Lender: JP Morgan
• Landlord: Jon Paul Pérez & Nick Perez - Related Group; Gil Dezer - Dezer; Isaac Toledano - BH Group
• Brokers: Scott Wadler, Mitch Sinberg, Brad Williamson, Matthew Robbins & Michael Basinski - Berkadia
• Loan Terms: Two-year, floating-rate loan with a one-year extension option

The key individuals involved in the deal comprise the landlord group, which includes Jon Paul Pérez and Nick Perez from Related Group, along with Gil Dezer from Dezer and Isaac Toledano from BH Group. The brokerage team from Berkadia consists of Scott Wadler, Mitch Sinberg, Brad Williamson, Matthew Robbins, and Michael Basinski, who facilitated the transaction.