Sageblan Investments Secures $18.25M Acquisition Loan For Parking Garage In Downtown Miami
FINANCED
$18,250,000
Florida
See Similar DealsDevelopment Site10,998 SF
Financed 11/02/2021
FINANCED
Sageblan Investments Secures $18.25M Acquisition Loan For Parking Garage In Downtown Miami
225 NE 1st St, Downtown Miami, Miami, FL, USA
See Similar DealsDevelopment Site10,998 SF
Financed 11/02/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1,659
Total Square Footage:10,998 SF
Transaction Type:Loan
The property involved is a parking garage/development site located at 225 North East 1st Street in Downtown Miami. It has been associated with an acquisition loan of $18,250,000 provided for this asset.
Summary of transaction details:
- Property Type: Parking Garage/Development Site
- Transaction Amount: $18,250,000
- Lender: Glacier Global Partners
- Borrower: Sageblan Investments
- Brokers: Michael Weinberg, Alec Fox & Scott Wadler - Berkadia
- Loan Type: Acquisition loan
This transaction has key representation from Michael Weinberg, Alec Fox, and Scott Wadler, who served as brokers through Berkadia, facilitating the loan process for Sageblan Investments with financial backing from Glacier Global Partners.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,250,000.00
Monthly NOI$121,666.67
Monthly Debt Service$115,352.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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