Updated Oct 29, 2024
Northwind Group Provides $40.9M Acquisition Loan For Dev Site In Miami Edgewater
3333 Biscayne Boulevard
$40,875,000
$319/SF
Building Size
127,861 SF
Asset Type
Development Site
Closing
Oct 3, 2022
About this deal
AI
An acquisition loan of $40,875,000 was secured for the development site located at 3333 Biscayne Boulevard in Edgewater, Miami. The site spans a total of 127,861 square feet and is categorized as a development site within the market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,875,000
- Address: 3333 Biscayne Boulevard, Edgewater, Miami
- Market: Edgewater, Miami
- Lender: Northwind Group - Ran Eliasaf & Gabriel Hamani
- Landlord: Beitel Group & Aimco
- Meridian Capital Group Representatives: Morris Betesh & Jack McPhail
The acquisition loan was provided by Northwind Group, represented by Ran Eliasaf and Gabriel Hamani, while the property's landlords are Beitel Group and Aimco. The loan was facilitated through the assistance of Morris Betesh and Jack McPhail from Meridian Capital Group. For further inquiries or opportunities, interested parties can reach out to [email protected].
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93