Updated Apr 27, 2026
City National Bank Provides $113,750,000 Development Loan For 9705 Collins Avenue In Bal Harbour
9705 Collins Avenue
$113,750,000
Building Size
—
Asset Type
Development Site
Closing
Apr 20, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 9705 Collins Avenue in Bal Harbour. The loan associated with the site amounts to $113,750,000 and is categorized as a land loan/pre-development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $113,750,000
- Lender: City National Bank
- Landlord: Edgardo DeFortuna & Eduardo Imery - Fortune International Group; Manuel Grosskopf - Chateau Group
- Brokers: Scott Wadler, Michael Basinski, Mitch Sinberg, Matt Robbins & Brad Williamson - Berkadia
The deal involves key individuals from Fortune International Group and Chateau Group who are the landlords for this transaction. The brokerage firm representing the deal, Berkadia, is composed of several brokers who played a significant role in facilitating this loan arrangement.
On the Map
$113,750,000
Development Site
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Players
Bal Harbour 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93