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Centennial Bank And LV Lending Provide $29.45M Loan For Hialeah Development Site

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FINANCED
$29,450,000
Michael Boutzoukas
Hugo Alvarez
+ 3

Florida

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Development Site100,693 SF
Financed 04/13/2021
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FINANCED

Centennial Bank And LV Lending Provide $29.45M Loan For Hialeah Development Site

1950 West 49th Street, Hialeah, FL, USA

See Similar Deals
Development Site100,693 SF
Financed 04/13/2021
Michael Boutzoukas
Hugo Alvarez
+ 3
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$292
Total Square Footage:100,693 SF
Transaction Type:Loan

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

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

1 deal$29.5M volume
BROKER

Michael Boutzoukas
1 deal$29.5M volume
BROKER

Cherrie Goudreau
1 deal$29.5M volume
BROKER

Scott Marcus
1 deal$29.5M volume
BROKER

LV Lending
BROKERAGE



RS
14 deals$979.9M volume
LANDLORD

12 deals$832.2M volume
LANDLORD

Details

FINANCED
IMAGE: Hugo Alvarez, Cherrie Goudreau, Michael Boutzoukas, Jeffrey Ardizon, Scott Marcus, Robert Suris & John Allison DATE: 04/13/2021 ADDRESS: 1950 West 49 Street MARKET: Hialeah ASSET TYPE: Development Site 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 LOAN AMOUNT: $29,450,000 ACRES: 5

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,450,000.00

Monthly NOI$196,333.33
Monthly Debt Service$186,144.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00