Terra Capital Partners Provides $57M Loan For Mixed-Use Property On Biscayne Boulevard In Miami
1100 Biscayne Boulevard, Miami, FL 33132
$57,000,000
$1,425/SF
Building Size
40,000 SF
Asset Type
Mixed-use
Closing
Apr 9, 2019
AI
The property involved in this closed transaction is a mixed-use asset located at 1100 Biscayne Boulevard in Miami. The transaction took place on 04/10/2019.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $57,000,000
- Address: 1100 Biscayne Boulevard, Miami
- Lender: Terra Capital Partners - Vik Uppal
- Landlord: CGI Merchant Group - Raoul Thomas
- Loan Terms: Two-year with a one-year extension option
The lender in this transaction was Terra Capital Partners, represented by Vik Uppal. The landlord was CGI Merchant Group, represented by Raoul Thomas. The loan amount for this transaction was $57,000,000, and the loan terms provided a two-year period with a one-year extension option.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93