Centennial Bank And LV Lending Provide $29.45M Loan For Hialeah Development Site
1950 West 49th Street, Hialeah, FL, USA
$29,450,000
$292/SF
Building Size
100,693 SF
Asset Type
Development Site
Closing
Apr 12, 2021
AI
The development site located at 1950 West 49 Street in Hialeah has been involved in a closed loan transaction. The loan amount for this deal was $29,450,000. The site spans across 5 acres of land.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $29,450,000
- Address: 1950 West 49 Street
- Market: Hialeah
- Lender: Centennial Bank - John Allison; LV Lending - Camilo Niño
- Landlord: The Estate Companies - Robert Suris & Jeffrey Ardizon
- Brokers: Hugo Alvarez, Michael Boutzoukas, Cherrie Goudreau & Scott Marcus - Becker
- Acres: 5
The loan transaction was facilitated by Centennial Bank, represented by their broker John Allison, as well as LV Lending, represented by Camilo Niño. The property is owned by The Estate Companies, with Robert Suris and Jeffrey Ardizon acting as the landlords. The brokers involved in the deal were Hugo Alvarez, Michael Boutzoukas, Cherrie Goudreau, and Scott Marcus from Becker.
Players
Hialeah 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93