Benmark Capital Provides $9.5M Bridge Loan For Coral Gables Development Site
FINANCED
$9,500,000
Florida
See Similar DealsDevelopment Site
Financed 01/26/2024
FINANCED
Benmark Capital Provides $9.5M Bridge Loan For Coral Gables Development Site
361 Los Pinos Place
See Similar DealsDevelopment Site
Financed 01/26/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
A development site located at 361 Los Pinos Place in Coral Gables has been involved in a closed transaction. The property is a development site with a building square footage (BSF) of 8,305.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 01/26/2024
- Address: 361 Los Pinos Place, Coral Gables
- Market: Coral Gables
- BSF: 8,305
The lender in this transaction was Benmark Capital, represented by Mark Simon and Joe Moser. The loan amount for the deal was $9,500,000, and it was classified as a bridge loan. The landlord involved in this transaction was Vlada Alexandr.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,500,000.00
Monthly NOI$63,333.33
Monthly Debt Service$60,046.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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