North Bridge Provides $42M Loan For Sunny Isles Beach Hotel
16701 Collins Avenue, Sunny Isles Beach, Florida 33160, United States
$42,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 21, 2022
About this deal
AI
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.
Players
Sunny Isles Beach Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93