Updated Dec 21, 2023
Santander Bank Provides $57.3M Loan For Miami-Dade County Development Site
Southwest 40th Street, Miami, FL, USA
$57,300,000
Units
338
Asset Type
Development Site
Closing
May 3, 2020
About this deal
AI
A development site located at 48th Ave & 40th St in Miami-Dade County has been involved in a closed transaction. The property was acquired by Zom Living, Scout Capital, and Mattoni Group.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $57,300,000
- Units: 338
- Lender: Santander Bank
Zom Living, Scout Capital, and Mattoni Group were the buyers in this transaction. Santander Bank provided the loan amount of $57,300,000. The development site consists of 338 units.
The development site loan at Southwest 40th Street, Miami, FL, USA in Miami, Florida financed for $57.3M in 2020. Reported inventory is 338 units across 338 units. This page is the Miami, Florida file for the Southwest 40th Street, Miami, 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 Southwest 40th Street, Miami, FL, USA around 2020. Published consideration for Southwest 40th Street, Miami, FL, USA is $57.3M, dated 2020. Cite this Santander Bank Provides $57.3M Loan For Miami-Dade County Development Site loan when underwriting similar development site product around Miami, Florida.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse Florida development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93