Cerberus Provides $80M Acquisition Loan For Bal Harbour Land Deal
10245 Collins Avenue
$80,000,000
Building Size
—
Asset Type
Land
Closing
Feb 13, 2022
About this deal
AI
The property involved in this transaction is a land located at 10245 Collins Avenue in Bal Harbour. The land spans approximately 3 acres. The transaction took place on 02/14/2022.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $80,000,000
- Address: 10245 Collins Avenue, Bal Harbour
- Market: Bal Harbour
- Acres: 3
The lender for this transaction was Cerberus. The landlords involved in this deal are Related Group represented by JP Perez & Eric Fordin, and Rockpoint Group & Two Roads represented by Taylor Collins & Ben Gerber. The brokers responsible for this transaction were Scott Wadler & Jaret Turkell from Berkadia.
The loan obtained for this acquisition was $80,000,000.
Players
Bal Harbour Land Market Snapshot
Boundary boundary · Land · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93