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Newmark Brokers $191M Construction Loan For 2600 Biscayne Blvd Mixed-Use Property

Property Image
FINANCED
$191,000,000
Dustin Stolly
Christopher (Chris) Kramer
+ 1

Florida

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Development Site
Financed 03/06/2024
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Property Image
FINANCED

Newmark Brokers $191M Construction Loan For 2600 Biscayne Blvd Mixed-Use Property

2600 Biscayne Boulevard

See Similar Deals
Development Site
Financed 03/06/2024
Dustin Stolly
Christopher (Chris) Kramer
+ 1
Contact now

Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The property located at 2600 Biscayne Boulevard, Miami is a mixed-use asset. The construction loan for this property amounted to $191,000,000 and was provided by George Gleason of Bank OZK. The landlords of the property are David Weitz and Erik Rutter from Oak Row Equities. The transaction was facilitated by brokers Jordan Roeschlaub, Dustin Stolly, Christopher Kramer, and Daniel Matz of Newmark.

Summary of transaction details:

The key individuals involved in this deal include Daniel Matz, Christopher Kramer, Jordan Roeschlaub, David Weitz, Dustin Stolly, Erik Rutter, and George Gleason. Each played a crucial role in the transaction of this mixed-use property in Miami.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Dustin Stolly
Walker & Dunlop
264 deals$49.1B volume
BROKER

Christopher (Chris) Kramer
Newmark
112 deals$21.8B volume(212) 850-5472
BROKER

Danny Matz
Newmark
28 deals$3.3B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Bank OZK
LENDER

Details

FINANCED
IMAGE: Daniel Matz, Christopher Kramer, Jordan Roeschlaub, David Weitz, Dustin Stolly, Erik Rutter & George Gleason DATE: 03/06/2024 ADDRESS: 2600 Biscayne Boulevard MARKET: Miami ASSET TYPE: Mixed-use LENDER: George Gleason - Bank OZK (@BankOZK) LANDLORD: David Weitz & Erik Rutter - Oak Row Equities (@OakRowEquities) BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Dustin Stolly, Christopher Kramer & Daniel Matz (@MatzyPants) - Newmark (@Newmark) LOAN AMOUNT: $191,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$191,000,000.00

Monthly NOI$1,273,333.33
Monthly Debt Service$1,207,249.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00