Cerberus Provides $80M Acquisition Loan For Bal Harbour Land Deal
FINANCED
$80,000,000
Florida
See Similar DealsLand
Financed 02/13/2022
FINANCED
Cerberus Provides $80M Acquisition Loan For Bal Harbour Land Deal
10245 Collins Avenue
See Similar DealsLand
Financed 02/13/2022
Summary
FLORIDA
Asset Type:Land
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,000,000.00
Monthly NOI$533,333.33
Monthly Debt Service$505,654.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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