Benmark Capital Provides $15M Bridge Loan For Development Site In Miami
FINANCED
$15,000,000
Florida
See Similar DealsDevelopment Site26,880 SF
Financed 06/05/2023
FINANCED
Benmark Capital Provides $15M Bridge Loan For Development Site In Miami
456 NE 29th St Miami, FL 33137, USA
See Similar DealsDevelopment Site26,880 SF
Financed 06/05/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$558
Total Square Footage:26,880 SF
Transaction Type:Loan
A development site located at 456 Northeast 29th Street in Miami, FL has been involved in a closed loan transaction. The property spans an area of 26,880 square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,000,000
- Lender: Benmark Capital - Joe Moser & Mark Simon
- Landlord: Adam West
- Loan Type: Bridge
- Loan Terms: 30-day closing
The loan, amounting to $15,000,000, was provided by Benmark Capital. The loan type was bridge, and it had a 30-day closing period. Joe Moser and Mark Simon, representing Benmark Capital, facilitated the loan transaction. Adam West assumed the role of the landlord in this deal.
Benmark Capital, a financing firm, is actively involved in offering loans for mixed-use, residential, and industrial properties, particularly in major gateway cities. For loan inquiries, Joe Moser can be contacted via email at [email protected].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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