Pacific Western Bank Provides $66.8M Construction Loan For Midtown Doral Development Site
FINANCED
$66,800,000
Florida
See Similar DealsDevelopment Site
Financed 04/13/2022
FINANCED
Pacific Western Bank Provides $66.8M Construction Loan For Midtown Doral Development Site
Northwest 107th Street, Miami, Florida 33168, United States
See Similar DealsDevelopment Site
Financed 04/13/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
A development site in Midtown Doral, located at Northwest 107th Avenue and Northwest 82nd Street, was recently involved in a closed property transaction. The site spans across 3.8 acres and is categorized as a development site.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Date: April 13, 2022
- Address: Northwest 107th Avenue and Northwest 82nd Street
- Market: Midtown Doral
- Landlord: Sergio Pino - Century Homebuilders; Ricardo Caporal - Mattoni Group; Juan Luis Aristizabal Velez - Conconcreto
- Lender: Pacific Western Bank
- Loan Amount: $66,800,000
- Loan Type: Construction Loan
The key individuals involved in this transaction include Sergio Pino of Century Homebuilders, Ricardo Caporal of Mattoni Group, and Juan Luis Aristizabal Velez of Conconcreto. The loan for this development site was provided by Pacific Western Bank and amounted to $66,800,000. This loan was specifically for the purpose of construction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$66,800,000.00
Monthly NOI$445,333.33
Monthly Debt Service$422,221.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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