Simon Reuben & David Reuben Secure $132M Loan For Bal Harbour Hotel
9703 Collins Avenue, Bal Harbour, FL, USA
$132,000,000
Building Size
—
Asset Type
Hotel
Closing
Nov 29, 2020
AI
The property involved in this transaction is a hotel located at 9703 Collins Avenue in Bal Harbour. The hotel has a total of 192 keys and 24 units. The transaction took place on November 30, 2020.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $132,000,000
- Market: Bal Harbour
The lender for this transaction was Mack Real Estate. The loan amount provided was $132,000,000, and the loan terms include a four-year term with a one-year extension option. The landlords involved in this transaction are David and Simon Reuben.
Players
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93