FinanceMiami Provides $5.6M Refinance Loan For Sunny Isles Beach Hotel
225 179th Drive, Sunny Isles Beach, Florida 33160, United States
$5,600,000
Building Size
—
Asset Type
Hotel
Closing
Jan 5, 2022
AI
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
North Miami Beach Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93