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2222 Northwest North River ...

INB Bank Provides $5M Refinance Loan For Ratia Miami River In Miami
FINANCEDMixed-use

INB Bank Provides $5M Refinance Loan For Ratia Miami River In Miami

2222 Northwest North River Drive

$5,000,000

$322/SF

Building Size

15,500 SF

Asset Type

Mixed-use

Closing

Feb 16, 2024

AI

The mixed-use property located at 2222 Northwest North River Drive in Miami spans 15,500 square feet. The property was refinanced for $5,000,000 with INB Bank. The landlord of the property is Ratia Miami River, owned by Ricardo Ratia. The deal was facilitated by Emile Schachter from WD Capital Group and Jose Degwitz from Ordeg Capital.

Summary of transaction details:

Emile Schachter from WD Capital Group and Jose Degwitz from Ordeg Capital played crucial roles as brokers in the refinancing deal, representing the parties involved in the transaction. Ricardo Ratia, the owner of Ratia Miami River, served as the landlord for the property, overseeing the successful refinancing process.

Players

Emile Schachter

WD Capital Group

Broker

$505.4M

vol

23 deals

Broker
INB Bank
INB BankLender

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

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93