Deutsche Bank Provides $117.5M Refinance Loan For Mixed-Use Property On Polk Street In Hollywood
1740 Polk Street, Hollywood, FL, USA
$117,500,000
$102/SF
Building Size
1,143,797 SF
Asset Type
Mixed-use
Closing
Oct 21, 2021
About this deal
AI
A mixed-use property located at 1740 Polk Street in Hollywood has recently undergone a refinancing transaction. The property, situated in the Hollywood market, features a combination of residential and commercial units.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $117,500,000
- Address: 1740 Polk Street
- Market: Hollywood
The loan for this transaction was provided by Deutsche Bank. The refinancing was facilitated by Gold Coast Florida Regional Center, who acts as the landlord for the property. Representing the borrower in this deal were Jay Miller, Spencer Miller, and AJ Felberbaum from BayBridge Real Estate Capital.
This refinancing deal represents a significant financial opportunity for the involved parties. The details of the agreement and the potential benefits it brings to the property are deemed confidential.
Players
Hollywood 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93