FinanceMiami Provides $5.6M Refinance Loan For Sunny Isles Beach Hotel
FINANCED
$5,600,000
Florida
See Similar DealsHotel
Financed 01/05/2022
FINANCED
FinanceMiami Provides $5.6M Refinance Loan For Sunny Isles Beach Hotel
225 179th Drive, Sunny Isles Beach, Florida 33160, United States
See Similar DealsHotel
Financed 01/05/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Loan
Located at 225 179th Street in Sunny Isles Beach, this hotel property recently underwent a refinancing loan transaction. The property consists of 17 keys and has been owned by Richard Valdes, the landlord. The deal was facilitated by financemiami''>FinanceMiami, with Doug Landry, Emile Schachter, and Robert Perea as the lenders.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $5,600,000
- Loan Type: Refinance Loan
FinanceMiami, represented by their broker, was responsible for completing the transaction. This refinancing loan provided a financial boost to the hotel property, allowing for further growth and development in Sunny Isles Beach.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,600,000.00
Monthly NOI$37,333.33
Monthly Debt Service$35,395.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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