Updated Jan 12, 2026
Claudio Fischer Of CF TSG Brickell Secures $65 Million Loan From Banco Santander For Miami Development Site
68 Southwest 13th Street
$65,000,000
Units
544
Asset Type
Development Site
Closing
Jan 9, 2026
About this deal
AI
A development site located at 68, 82, 84 Southwest 13th Street & 1399 Southwest First Avenue in Miami has been secured for a loan amount of $65,000,000. The asset spans 1 acre and is intended for the construction of a 41-story residential tower comprising 544 units, along with retail and parking facilities. This site was previously anchored by the Mexican consulate and is under contract to Miami-based Key International.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $65,000,000
- Lender: Banco Santander
- Landlord: Claudio Fischer - CF TSG Brickell
- Contract Buyer: Key International
- Project Details: 41-story residential tower with 544 units
- Site Size: 1 acre
Claudio Fischer is undertaking this project as his first high-rise development, and the purchase-sale agreement with Key International has been utilized as collateral for the loan. This transaction highlights Key International’s expanding development pipeline in Miami.
On the Map
$65,000,000
Development Site
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Players
Miami Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93