facebook
Traded Co logo
Submit

Newgard Development Group Refinances Mixed-Use Property In Brickell, Miami For $170M

Property Image
FINANCED
$170,000,000
Faisal Ashraf
Harvey Hernandez

Florida

See Similar Deals
Development Site25,063 SF
Financed 06/27/2022
the dealplayerscompscontact
Property Image
FINANCED

Newgard Development Group Refinances Mixed-Use Property In Brickell, Miami For $170M

99 Southwest 7th Street, Miami, Florida 33130, United States

See Similar Deals
Development Site25,063 SF
Financed 06/27/2022
Faisal Ashraf
Harvey Hernandez
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$6,782
Total Square Footage:25,063 SF
Transaction Type:Loan

The transaction involves a mixed-use property located at 99 SW 7th St in Brickell, Miami. The property spans approximately 595,000 square feet.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $170,000,000
  • Loan Type: Refinance

The lender for this transaction is 3650 REIT represented by Jonathan Roth. The landlord is Newgard Development Group represented by Harvey Hernandez. The broker involved in the deal is Faisal Ashraf from Lotus Capital Partners.

The financing package for this transaction is unique as it combines structural features of both an acquisition and a construction loan.

Players

Faisal Ashraf
Faisal Ashraf
17 deals$2.7B volume(646) 226-6701
BROKER
Bank OZK
Bank OZK
LENDER
3650 Capital
3650 Capital
LENDER
Harvey Hernandez
Harvey Hernandez
12 deals$870.8M volume
LANDLORD

Details

FINANCED
IMAGE: Harvey Hernandez, Faisal Ashraf & Jonathan Roth DATE: 06/27/2022 ADDRESS: 99 SW 7th St MARKET: Brickell, Miami ASSET TYPE: Mixed-use ~ SF: 595,000 LENDER: 3650 REIT - Jonathan Roth LANDLORD: Newgard Development Group - Harvey Hernandez BROKER: Faisal Ashraf - Lotus Capital Partners LOAN AMOUNT: $170,000,000 LOAN TYPE: Refinance LOAN TERMS: The financing package is unique in that it combines structural features of both an acquisition and a construction 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

$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