facebook
Traded Co logo
Submit

MG Developer Acquires Development Site In Coral Gables For $11.5M Loan

Property Image
FINANCED
$11,000,000

Florida

See Similar Deals
Development Site
Financed 12/28/2023
the dealplayerscompscontact
Property Image
FINANCED

MG Developer Acquires Development Site In Coral Gables For $11.5M Loan

717 Valencia Avenue

See Similar Deals
Development Site
Financed 12/28/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

Alirio Torrealba has closed a loan transaction for the development site located at 717 Valencia Avenue in Coral Gables. The property, owned by MG Developer, is a development site with 17 units and a total buildable square footage of 36,934. The loan amount for this transaction was $11,500,000, and it was an acquisition loan.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $11,500,000
  • Address: 717 Valencia Avenue, Coral Gables
  • Market: Coral Gables
  • Units: 17
  • Buildable Square Footage: 36,934

Alirio Torrealba from MG Developer served as the landlord in this transaction.

Details

FINANCED
IMAGE: Alirio Torrealba DATE: 12/28/2023 ADDRESS: 717 Valencia Avenue MARKET: Coral Gables ASSET TYPE: Development Site ~ UNITS: 17 ~ BSF: 36,934 LANDLORD: MG Developer (@MGDeveloper) - Alirio Torrealba (@AliriojTorrealba) LOAN AMOUNT: $11,500,000 LOAN TYPE: Acquisition Loan

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00