Bank Ozk Provides $215M Construction Loan For Mixed-Use Property In Wynwood
95 Northwest 29th Street
$215,000,000
$1,731/SF
Building Size
124,146 SF
Asset Type
Mixed-use
Closing
Dec 31, 2022
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 95 Northwest 29th Street in Wynwood. The transaction took place on 01/17/2023.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $215,000,000
- Lender: Bank Ozk - David Weitz & Erik Rutter
- Landlord: L&L Holding Company - Robert Lapidus & David Levinson; Oak Row Equities; Shorenstein
- Brokers: Michael (Thomas) Basinski, Charles Foschini & Scott Wadler - Berkadia
- Loan Type: Construction Loan
Bank Ozk, represented by David Weitz and Erik Rutter, provided a construction loan totaling $215,000,000 for the mixed-use property located at 95 Northwest 29th Street in Wynwood. The property is owned by L&L Holding Company, represented by Robert Lapidus and David Levinson, and also involves Oak Row Equities and Shorenstein. The transaction was facilitated by brokers Michael (Thomas) Basinski, Charles Foschini, and Scott Wadler from Berkadia.
Players
Wynwood 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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93