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1950 West 49th Street, Hial...

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

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

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

Hugo Alvarez

Broker

$29.5M

vol

1 deal

Broker
LV Lending
LV LendingBrokerage
LV Lending
LV LendingLender

Robert Suris

The Estate Companies

Landlord

$979.9M

vol

14 deals

Landlord

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