BridgeInvest Provides $36M Loan For Mixed-Use Commercial Building In Aventura, Miami
2820 Northeast 214th Street, Aventura, FL, USA
$36,000,000
$705/SF
Building Size
51,000 SF
Asset Type
Mixed-use
Closing
Jun 24, 2019
About this deal
AI
Aventura, Miami has witnessed a noteworthy closed transaction involving a mixed-use commercial building located at 2820 Northeast 214th Street. This property, measuring approximately 51,000 square feet, was the focus of a deal that took place on June 25, 2019.
Summary of transaction details
- Property Type: Mixed-Use Commercial Building
- Transaction Amount: $36,000,000
- Lender: BridgeInvest
- Landlord: Rieber Developments
- Image: Bernardo Rieber
This transaction was made possible through a loan provided by BridgeInvest to Rieber Developments. The loan amount of $36,000,000 facilitated the successful completion of the deal, solidifying the ownership rights and responsibilities of Rieber Developments as the landlord of this prime Aventura property.
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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93