Terra Group Secures $230M Senior & Mezzanine Loan For Mixed-use Development In Little Havana
FINANCED
$230,000,000
Florida
See Similar DealsMixed-use
Financed 08/12/2022
FINANCED
Terra Group Secures $230M Senior & Mezzanine Loan For Mixed-use Development In Little Havana
3825 Northwest 7th Street, Miami, Florida 33126, United States
See Similar DealsMixed-use
Financed 08/12/2022
Summary
FLORIDA
Asset Type:Mixed-use
Transaction Type:Loan
A mixed-use development located at 3825 Northwest 7th Street in Little Havana has been involved in a closed property transaction. The property, spanning 39 acres, is owned by Terra Group, represented by David Martin. The transaction was facilitated by broker Walker & Dunlop. The deal included a loan from Apollo Global Management and Mack Real Estate Credit Strategies.
Summary of transaction details:
- Property Type: Mixed-use Development
- Transaction Amount: $230,000,000
- Loan Type: Senior & Mezzanine Loan
The lender in this transaction, providing a loan of $230,000,000, was Apollo Global Management and Mack Real Estate Credit Strategies. David Martin, representing Terra Group, acted as the landlord. The broker involved in the deal was Walker & Dunlop.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$230,000,000.00
Monthly NOI$1,533,333.33
Monthly Debt Service$1,453,756.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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