Updated Sep 11, 2026
Related Group Secures $135.9M Loan From CIBC Bank For Ritz-Carlton Residences Tampa
$135,900,000
Building Size
—
Asset Type
Development Site
Closing
Jun 6, 2024
About this deal
AI
The Ritz-Carlton Residences Tampa project, located at 3101 Bayshore Boulevard in Tampa, is a development site along Hillsborough Bay. The project consists of two towers and 12 townhome villas, with construction on Phase II commencing in November 2023.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $135,900,000
- Lender: CIBC Bank USA
- Landlord: Jorge Pérez - Related Group
- Market: Tampa
- Asset Type: Development Site
- Date: 06/06/2024
- Address: 3101 Bayshore Boulevard
Related Group secured a $135.9 million loan from CIBC Bank USA for the Ritz-Carlton Residences Tampa project. The landlord of the property is Jorge Pérez, who represents the Related Group in this transaction.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93