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:
- Property Type: Mixed-use
- Transaction Amount: $5,000,000
- Address: 2222 Northwest North River Drive
- Market: Miami
- Asset Type: Mixed-use
- Broker: Emile Schachter - WD Capital Group; Jose Degwitz - Ordeg Capital
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
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