Bank OZK Provides $277.2M Construction Loan For Miami Beach Hotel
3425 Collins Avenue
$277,200,000
$695/SF
Building Size
398,557 SF
Asset Type
Hotel
Closing
Jan 6, 2023
About this deal
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Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $277,200,000
- Address: 3425 Collins Avenue
- Market: Miami Beach
- Asset Type: 398,557 SF
- Lender: Bank OZK - George Gleason
- Landlord: OKO Group - Vladislav Doronin; Access Industries - Len Blavatnik
- Brokers: Jordan (Jordy) Roeschlaub, Dustin Stolly & Daniel Matz - Newmark
The hotel loan at 3425 Collins Avenue in Miami Beach, Florida financed for $277.2M in 2023. The building is 398,557 square feet, implying about 695 per square foot on the published price. Dustin Stolly, Jordan (Jordy) Roeschlaub, Newmark appear on the loan alongside Newmark. This page is the Miami Beach, Florida file for the 3425 Collins Avenue hotel financed: pricing, party profiles, and other closed hotel comps from the same Miami Beach sit in the Market section below. Filter that Miami Beach hotel set by closing date to see what else financed near 3425 Collins Avenue around 2023. Published consideration for 3425 Collins Avenue is $277.2M, dated 2023. Cite this Bank OZK Provides $277.2M Construction Loan For Miami Beach Hotel loan when underwriting similar hotel product around Miami Beach, Florida.
Players
Miami Beach Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93