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Southeast Corner Of Southwe...

FINANCEDDevelopment Site

David O. Deutch Of Pinnacle Secures $41 Million Loan For Affordable Senior Housing Development In Miami

Southeast Corner Of Southwest 250th Street & Southwest 137th Avenue

$41,000,000

Building Size

Asset Type

Development Site

Closing

Aug 5, 2026

AI

The property involved in this transaction is a development site located at the southeast corner of Southwest 250th Street & Southwest 137th Avenue in Miami, FL. The loan amount secured for this project is $41,000,000, which will facilitate the construction of a 110-unit affordable senior housing community designed for residents aged 62 and older who earn up to 60% of the area median income.

Summary of transaction details:

Pinnacle has secured financing that includes a $28 million construction loan from Bank of America, along with an $8 million permanent loan from Neighborhood Lending Partners upon stabilization. Additionally, $30.7 million in low-income housing tax credit equity has been obtained from Bank of America for this project, named Pinnacle at Tropical Crossings.

Players

David O. Deutch

Broker

$201.1M

vol

4 deals

Broker
Bank of America
Bank of AmericaLender

David O. Deutch

Pinnacle

Landlord

$201.1M

vol

4 deals

Landlord

Lexington Park Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.39%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93