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Fisher Brothers Management Secures $117.5M Construction Loan For Wynwood Development
FINANCED
$117,500,000
Florida
See Similar DealsDevelopment Site
Financed 07/04/2023
FINANCED
Fisher Brothers Management Secures $117.5M Construction Loan For Wynwood Development
2200 NW 1st AveMiami, FL 33127, USA
See Similar DealsDevelopment Site
Financed 07/04/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
Fisher Brothers Management has secured a $117.5 million construction loan for their first Miami development in Wynwood. The development site, located at 2200 & 2250 Northwest First Avenue & 2201 & 2229 Northwest First Court, spans 1.39 acres. The project will feature an 8-story building with 312 apartments, retail space, and amenities, taking advantage of the area's booming development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $117,500,000
- Address: 2200 & 2250 Northwest First Avenue & 2201 & 2229 Northwest First Court
- Market: Miami
- Loan Type: Construction
Canyon Partners Real Estate is the lender for this construction loan. Michelle Fischer, representing Fisher Brothers Management, played a key role in securing the loan for the project in Wynwood.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$117,500,000.00
Monthly NOI$783,333.33
Monthly Debt Service$742,679.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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