Royal Senior Care Acquires Development Site In Richmond Heights, Miami For $41.9M
FINANCED
$41,900,000
Florida
See Similar DealsDevelopment Site217,123 SF
Financed 04/16/2021
FINANCED
Royal Senior Care Acquires Development Site In Richmond Heights, Miami For $41.9M
Southwest 152nd Street, Richmond Heights, Miami-Dade, FL, USA
See Similar DealsDevelopment Site217,123 SF
Financed 04/16/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$193
Total Square Footage:217,123 SF
Transaction Type:Loan
A development site located on Southwest 152nd Street in Richmond Heights, Miami, has recently been involved in a closed property transaction. The property spans across 8.7 acres and features a total area of 217,123 square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Date: 04/16/2021
- Market: Richmond Heights, Miami
- Lender: BHI & Coastal States Bank
- Landlord: Royal Senior Care - Avi Bittan
- Broker: Healthcare Group
- Loan Amount: $41,900,000
- Acres: 8.7
- Square Feet: 217,123
The property transaction involved Avi Bittan from Royal Senior Care as the landlord. The loan for the transaction amounting to $41,900,000 was provided by BHI & Coastal States Bank. The Healthcare Group acted as the broker for this deal.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$41,900,000.00
Monthly NOI$279,333.33
Monthly Debt Service$264,836.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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