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Silverstein Capital Partners Provides $340M Construction Loan For Mixed-Use Project In Downtown Miami | Larry Silverstein | Dan Kodsi

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FINANCED
$340,000,000

Florida

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Mixed-use2,250 SF
Financed 12/13/2021
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FINANCED

Silverstein Capital Partners Provides $340M Construction Loan For Mixed-Use Project In Downtown Miami | Larry Silverstein | Dan Kodsi

942 Northeast 1st Avenue, Downtown Miami, Homestead, FL, USA

See Similar Deals
Mixed-use2,250 SF
Financed 12/13/2021
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Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$151,111
Total Square Footage:2,250 SF
Transaction Type:Loan

The mixed-use property located at 942 Northeast 1st Avenue in Downtown Miami has been involved in a recent loan transaction. The loan amount for this transaction is $340,000,000, and it is classified as a construction loan. The lender in this transaction is Silverstein Capital Partners, represented by Larry Silverstein. The landlord of the property is Dan Kodsi, who is associated with Royal Palm Companies.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $340,000,000
  • Lender: Silverstein Capital Partners - Larry Silverstein
  • Landlord: Dan Kodsi - Royal Palm Companies

This loan transaction involving the mixed-use property at 942 Northeast 1st Avenue showcases the collaboration between Silverstein Capital Partners, represented by Larry Silverstein, and the landlord, Dan Kodsi of Royal Palm Companies.

Players

LENDER

12 deals$1B volume
LANDLORD

Details

FINANCED
IMAGE: Larry Silverstein & Dan Kodsi DATE: 12/13/2021 ADDRESS: 942 Northeast 1st Avenue (@LegacyMWC) (@MiamiWorldcenter) MARKET: Downtown Miami ASSET TYPE: Mixed-use LENDER: Silverstein Capital Partners (@SilversteinProperties) - Larry Silverstein LANDLORD: Dan Kodsi - Royal Palm Companies LOAN AMOUNT: $340,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$340,000,000.00

Monthly NOI$2,266,666.67
Monthly Debt Service$2,149,031.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00