Joseph Stern & Roni Benjamini Landlord With Adam Westreich Secures $170M Construction Loan In Miami
FINANCED
$170,000,000
Florida
See Similar DealsDevelopment Site
Financed 08/14/2025
FINANCED
Joseph Stern & Roni Benjamini Landlord With Adam Westreich Secures $170M Construction Loan In Miami
496 Northeast 29th Street
See Similar DealsDevelopment Site
Financed 08/14/2025
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The property involved in this transaction is a development site located at 496 Northeast 29th Street in Miami. The transaction involves a construction loan amounting to $170,000,000, facilitated by Bravo Capital.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $170,000,000
- Lender: Bravo Capital
- Landlord: Joseph Stern & Roni Benjamini - SB Development
- Additional Landlord: Adam Westreich - Hazelton Capital
- Market: Miami
- Loan Type: Construction
The key individuals in this transaction include Joseph Stern and Roni Benjamini, representing SB Development, along with Adam Westreich from Hazelton Capital. These individuals play significant roles as landlords in this deal, connecting the financial backing provided by Bravo Capital with the development goals set for the site.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$170,000,000.00
Monthly NOI$1,133,333.33
Monthly Debt Service$1,074,515.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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