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North Bridge Provides $42M Loan For Sunny Isles Beach Hotel

Property Image
FINANCED
$42,000,000

Florida

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Hotel
Financed 12/21/2022
the dealdetailscomps
Property Image
FINANCED

North Bridge Provides $42M Loan For Sunny Isles Beach Hotel

16701 Collins Avenue, Sunny Isles Beach, Florida 33160, United States

See Similar Deals
Hotel
Financed 12/21/2022
the dealdetailscomps

Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Loan

Located at 16701 Collins Avenue in Sunny Isles Beach, this hotel asset was involved in a closed transaction. The property, known for its prime location in the market, was the subject of a loan deal.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $42,000,000
  • Loan Lender: North Bridge - Laura Rapaport
  • Landlord: HB Capital Group - Edward Hurowitz

The loan for this hotel asset was provided by North Bridge, represented by Laura Rapaport. The fixed-rate loan amounted to $42,000,000. On the other hand, the landlord in this transaction was HB Capital Group, represented by Edward Hurowitz.

Details

FINANCED
IMAGE: Laura Rapaport DATE: 12/21/2022 ADDRESS: 16701 Collins Avenue MARKET: Sunny Isles Beach ASSET TYPE: Hotel LENDER: North Bridge - Laura Rapaport LANDLORD: HB Capital Group - Edward Hurowitz (@EdwardHurowitz) LOAN AMOUNT: $42,000,000 LOAN TERMS: fixed-rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,000,000.00

Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00