Bridgelnvest Provides $35M Construction Loan For 120-Key Hotel In Wynwood, FL
255 NW 25th St, Miami, Florida 33127, United States
$35,000,000
$4,268/SF
Building Size
8,200 SF
Asset Type
Hotel
Closing
Dec 16, 2021
About this deal
AI
A construction loan worth $35,000,000 has been secured for a hotel located at 255 NW 25th Street in Wynwood, FL. The property, consisting of 120 keys, will undergo construction with the assistance of Bridgelnvest as the lender. The loan was facilitated by Drew Anderman, Eddie Haber, and Ben Nevid from Meridian Capital Group.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $35,000,000
- Address: 255 NW 25th Street, Wynwood, FL
- Market: Wynwood, FL
- Keys: 120
Drew Anderman, Eddie Haber, and Ben Nevid from Meridian Capital Group represented Bridgelnvest, the lender, in securing the construction loan for the Wynwood hotel project.
Players
Miami 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93