Mast Capital And BH Group Secures $28.2 Million Loan For Development Site In Miami
2545 South Bayshore Drive
$28,200,000
Building Size
—
Asset Type
Development Site
Closing
Jun 15, 2025
AI
The asset involved is a development site located at 2545 South Bayshore Drive in Miami. The transaction pertains to an acquisition with a loan amount of $28,200,000. The loan terms specify a duration of two years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $28,200,000
- Lender: Jon Gitman & Alex Horn - BridgeInvest
- Landlord: Camilo Miguel Jr. & Jordan Kornberg - Mast Capital; Isaac Toledano - BH Group
- Brokers: Scott Wadler, Mitch Sinberg, Brad Williamson & Matthew Robbins - Berkadia
- Loan Type: Acquisition
- Loan Terms: Two years
The key individuals involved in the transaction include the lenders Jon Gitman and Alex Horn from BridgeInvest, and the landlords Camilo Miguel Jr. and Jordan Kornberg associated with Mast Capital, along with Isaac Toledano from BH Group. The brokerage team consists of Scott Wadler, Mitch Sinberg, Brad Williamson, and Matthew Robbins from Berkadia.
Players
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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93