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Newmark Represents L And L Holding And Shorenstein In $445M Equity Loan For Miami Mixed-Use Property

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FINANCED
$445,000,000
Danny Matz
Dustin Stolly
+ 2

Florida

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Mixed-use820,000 SF
Financed 01/17/2023
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FINANCED

Newmark Represents L And L Holding And Shorenstein In $445M Equity Loan For Miami Mixed-Use Property

2800 NW 1st Avenue

See Similar Deals
Mixed-use820,000 SF
Financed 01/17/2023
Danny Matz
Dustin Stolly
+ 2
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$542
Total Square Footage:820,000 SF
Transaction Type:Loan

The mixed-use property located at 2800 NW 1st Avenue in Miami has been involved in a recent loan transaction. The property spans an impressive 820,000 square feet and is situated in the vibrant Miami market.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $445,000,000
  • Lender: Brandon Shorenstein
  • Landlord: Marcelo Claure, David Levinson (L And L Holding), Erik Rutter & David Weitz (Oak Row)
  • Landlord's Representative: Jordan (Jordy) Roeschlaub, Dustin Stolly, Daniel (Danny) Matz, Eden Abraham (Newmark)
  • Loan Type: Equity Loan

Behind this loan transaction, Brandon Shorenstein took on the role of the lender. The landlord, Marcelo Claure, oversaw the deal, while David Levinson from L And L Holding and Erik Rutter & David Weitz from Oak Row also played significant roles as landlords. Representing the landlord's interests, Jordan (Jordy) Roeschlaub, Dustin Stolly, Daniel (Danny) Matz, and Eden Abraham from Newmark took part in the negotiation process.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Danny Matz
Newmark
28 deals$3.3B volume
BROKER

Eden Abraham
Newmark
9 deals$1.4B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Details

FINANCED
IMAGE: Brandon Shorenstein, Erik Rutter, Jordan Roeschlaub, Brandon Shorenstein, Dustin Stolly, Daniel Matz, David Weitz, Eden Abraham & Marcelo Claure DATE: 01/17/2023 ADDRESS: 2800 NW 1st Avenue MARKET: Miami ASSET TYPE: Mixed-use ~ SF: 820,000 LENDER: Shorenstein - Brandon Shorenstein (@BShorenstein) LANDLORD: Marcelo Claure ; L And L Holding - David Levinson; Oak Row (@OakRowEquities) - Erik Rutter & David Weitz LANDLORD'S REP: Jordan (Jordy) Roeschlaub (@JordyRoeschlaub), Dustin Stolly, Daniel (Danny) Matz (@MatzyPants) & Eden Abraham - Newmark (@Newmark) LOAN AMOUNT: $445,000,000 LOAN TYPE: Equity Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$445,000,000.00

Monthly NOI$2,966,666.67
Monthly Debt Service$2,812,702.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00