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2200 Northeast 7th Avenue

Talcott Resolution Life Insurance Provides $28M Construction Loan For Development Site In Dania Beach
FINANCEDDevelopment Site

Talcott Resolution Life Insurance Provides $28M Construction Loan For Development Site In Dania Beach

2200 Northeast 7th Avenue

$28,000,000

$163,742/SF

Building Size

171 SF

Asset Type

Development Site

Closing

Feb 8, 2022

AI

Located at 2200 Northeast Seventh Avenue in Dania Beach, this 22.4-acre development site was recently involved in a closed transaction. The property, with a building square footage of 171,000, is situated in a prime location within the market.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $28,000,000
  • Market: Dania Beach
  • Building Square Footage: 171,000
  • Lot Size: 22.4 acres

In this deal, the lender, Talcott Resolution Life Insurance, provided a construction loan of $28,000,000. The landlord, Bridge Industrial, represented by Steve Poulos & Kevin Carroll, facilitated the transaction. The involvement of these key individuals and companies highlights the collaborative efforts behind the successful completion of the deal.

Players

Bridge Industrial
Bridge IndustrialBrokerage

Steve Poulos

Bridge Industrial

Landlord

$2B

vol

26 deals

Landlord

Miami 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

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93