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93 Northeast 36th Street

Amerant Bank And Bank Hapoalim Provide $125 Million Loan For Miami Development Site
FINANCEDDevelopment Site

Amerant Bank And Bank Hapoalim Provide $125 Million Loan For Miami Development Site

93 Northeast 36th Street

$125,000,000

Building Size

Asset Type

Development Site

Closing

Jun 17, 2025

AI

A construction loan of $125,000,000 has been arranged for the development site located at 91-93 Northeast 36th Street in Miami, which will host "Cassi," a 107-unit, 20-story mixed-use project in Miami’s Design District.

Summary of transation details:

The joint venture behind the development comprises Miami Design District Associates, Hunter Pasteur, and The Forbes Company, highlighting the collaboration among seasoned entities in the market to bring this project to fruition.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
Walker & Dunlop
Walker & DunlopBrokerage
Adrian Rahimi

Adrian Rahimi

Bank Hapoalim (BHI)

Lender

$828.8M

vol

6 deals

Lender
Amerant Bank
Amerant BankLender

Craig Robins

Landlord

$519.8M

vol

5 deals

Landlord

Miami Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93