Updated Oct 29, 2024
BridgeInvest Provides $15M Loan For Development Site At 32390 Biscayne Boulevard In Aventura
32390 Biscayne Boulevard, Aventura, FL, USA
$15,000,000
$137/SF
Building Size
108,900 SF
Asset Type
Development Site
Closing
Jan 25, 2021
About this deal
AI
Located at 32390 Biscayne Boulevard in Aventura, this 2.5-acre development site was recently involved in a closed property transaction. The transaction took place on January 26, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,000,000
- Address: 32390 Biscayne Boulevard
- Market: Aventura
- Acres: 2.5
The lender in this transaction was BridgeInvest, represented by Alex Horn. The loan amount provided by BridgeInvest was $15,000,000. On the other side, the landlord was Rieber Developments, represented by Bernardo Rieber.
The development site loan at 32390 Biscayne Boulevard, Aventura, FL, USA in Miami, Florida financed for $15M in 2021. The building is 108,900 square feet, implying about 137 per square foot on the published price. Named participants on the 32390 Biscayne Boulevard, Aventura, FL, USA loan are Bernardo Rieber. This page is the Miami, Florida file for the 32390 Biscayne Boulevard, Aventura, FL, USA development site financed: pricing, party profiles, and other closed development site comps from the same Miami sit in the Market section below. Filter that Miami development site set by closing date to see what else financed near 32390 Biscayne Boulevard, Aventura, FL, USA around 2021. Published consideration for 32390 Biscayne Boulevard, Aventura, FL, USA is $15M, dated 2021. Cite this BridgeInvest Provides $15M Loan For Development Site At 32390 Biscayne Boulevard In Aventura loan when underwriting similar development site product around Miami, Florida.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93