Ocean Bank Provides $48M Refinancing Loan For Mixed-Use Property In Miami
FINANCED
$48,000,000
Florida
See Similar DealsMixed-use245,971 SF
Financed 12/01/2022
FINANCED
Ocean Bank Provides $48M Refinancing Loan For Mixed-Use Property In Miami
1800 Southwest 1st Avenue
See Similar DealsMixed-use245,971 SF
Financed 12/01/2022
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$195
Total Square Footage:245,971 SF
Transaction Type:Loan
The mixed-use property located at 1800 SW 1st Ave in Miami has been involved in a recent closed transaction. The property spans an area of 245,971 square feet and includes both residential and commercial spaces.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $48,000,000
- Lender: Ocean Bank
- Landlord: Melo Group
- Broker: Peter Mekras - Aztec Group
The loan provided for this transaction amounted to $48,000,000 and served as a refinancing loan. Ocean Bank acted as the lender in this deal. The Melo Group served as the landlord for the property, while the broker representing the transaction was Peter Mekras from Aztec Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,000,000.00
Monthly NOI$320,000.00
Monthly Debt Service$303,392.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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