Blackstone Real Estate Debt Strategies Provides $136M Loan For Wynwood Multifamily And Office Properties
240 Northwest 25th Street, Wynwood, Miami, FL, USA
$136,000,000
$2,266/SF
Building Size
60,000 SF
Asset Type
Mixed-use
Closing
Feb 5, 2020
About this deal
AI
The property involved in this closed transaction is located at 240 Northwest 25th Street and 215 Northwest 24th Street in the Wynwood market. It is a multifamily and office asset with a total of 289 units and approximately 60,000 square feet of space. The loan secured for this property was $136,000,000.
Summary of transaction details:
- Property Type: Multifamily, Office
- Transaction Amount: $136,000,000
- Address: 240 Northwest 25th Street, 215 Northwest 24th Street
- Market: Wynwood
- Units: 289
- Square Footage: 60,000
In this transaction, the lender was Blackstone Real Estate Debt Strategies. The landlord involved in the deal was East End Capital represented by Jonathon Yormak, and The Related Group represented by Jon Paul Perez.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93