New York Life Insurance Provides $81M Loan For Mixed-Use Project In Hialeah
FINANCED
$81,000,000
Florida
See Similar DealsMixed-use
Financed 05/19/2022
FINANCED
New York Life Insurance Provides $81M Loan For Mixed-Use Project In Hialeah
NW 138th Street, Hialeah Gardens, Florida 33016, United States
See Similar DealsMixed-use
Financed 05/19/2022
Summary
FLORIDA
Asset Type:Mixed-use
Transaction Type:Loan
A mixed-use property located at NW 138th St & NW 97th Ave in Hialeah has been involved in a closed transaction. The property spans over 70 acres and is situated in the market of Hialeah. The deal was facilitated by Sean Harrington from the Aztec Group, representing the buyer and seller, and the landlord, Dacar Management.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $81,000,000
- Address: NW 138th St & NW 97th Ave
- Market: Hialeah
- Broker: Sean Harrington - Aztec Group
The loan for this transaction was provided by New York Life Insurance. The loan amount was $81,000,000, and it was a construction-to-permanent financing. The terms of the loan included a 27-year fixed-rate loan. This funding will support the development of the mixed-use property at NW 138th St & NW 97th Ave in Hialeah.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$81,000,000.00
Monthly NOI$540,000.00
Monthly Debt Service$511,975.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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