Neology Life Development Group Secures $24.1M Note Purchase Loan In Miami
2301 Northwest 33rd Avenue
$24,100,000
$75/SF
Building Size
317,988 SF
Asset Type
Mixed-use
Closing
Apr 25, 2023
About this deal
AI
The loan for the property located at 2301 Northwest 33rd Avenue in Miami has been finalized. The mixed-use asset spans a total of 317,988 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $24,100,000
- Address: 2301 Northwest 33rd Avenue
- Market: Miami
- Loan Type: Note Purchase
The lender for this transaction is Forman Capital, represented by Brett Forman and Ben Jacobson. The borrower is Neology Life Development Group, represented by Lissette Calderon. Charles Foschini from Berkadia served as the broker in this deal.
On the Map
$24,100,000
$75/SF
Mixed-use
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Players
Market 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93