David Martin Of Terra Secures $170 Million Construction Loan For Mixed-use Property In Miami
FINANCED
$170,000,000
Florida
See Similar DealsMixed-use696,000 SF
Financed 12/13/2024
FINANCED
David Martin Of Terra Secures $170 Million Construction Loan For Mixed-use Property In Miami
11897 Northwest 12th Street
See Similar DealsMixed-use696,000 SF
Financed 12/13/2024
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$244
Total Square Footage:696,000 SF
Transaction Type:Loan
The asset involved in this transaction is a mixed-use property located at 11897 Northwest 12th Street in the Miami market. The property has a total square footage of 696,000. The loan amount for this construction financing is $170,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $170,000,000
- Address: 11897 Northwest 12th Street
- Market: Miami
- Lender: SCALE Lending
- Landlord: David Martin - Terra
- Brokers: Keith Kurland & Michael Diaz - Walker & Dunlop
- Loan Type: Construction
Key individuals involved in this transaction include David Martin who represents the landlord Terra. The brokers for this transaction are Keith Kurland and Michael Diaz from Walker & Dunlop, facilitating the financing process.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$170,000,000.00
Monthly NOI$1,133,333.33
Monthly Debt Service$1,074,515.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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