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Cababie Family Secures $70 Million Construction Loan From Ocean Bank For Central Aventura Development
FINANCED
$70,000,000
Florida
See Similar DealsDevelopment Site
Financed 02/11/2026
FINANCED
Cababie Family Secures $70 Million Construction Loan From Ocean Bank For Central Aventura Development
20955 Biscayne Boulevard
See Similar DealsDevelopment Site
Financed 02/11/2026
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The development site located at 20955 Biscayne Boulevard in Aventura, Florida is set on a 1.5-acre parcel. The property encompasses a total of 142,153 square feet and is being developed into a nine-story mixed-use project that will feature both office and retail spaces. The Cababie family acquired the site in 2019 for a price of $13 million.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $70,000,000
- Market: Aventura
- Lender: Agostinho Alfonso Macedo - Ocean Bank
- Landlord: Elias & Jacobo Cababie Dichi
- Loan Type: Construction
The loan secured from Ocean Bank by the Cababie family is dedicated to the development of Central Aventura. Agostinho Alfonso Macedo facilitated the construction financing involved in this transaction, aiming to transform the site into a mixed-use environment that accommodates modern business needs.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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