Terra Secures $291 Million Permanent Financing From JVP Management & Hudson Bay Capital In Miami
Northwest 7th Street and Northwest 37th Avenue
$291,000,000
$831/SF
Building Size
350,000 SF
Asset Type
Mixed-use
Closing
Dec 30, 2024
About this deal
AI
The asset involved in this transaction is a mixed-use property located at Northwest 7th Street & Northwest 37th Avenue in the Miami market. It encompasses a total square footage of 350,000 and has secured permanent financing amounting to $291,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $291,000,000
- Address: Northwest 7th Street & Northwest 37th Avenue
- Market: Miami
- Lender: JVP Management & Hudson Bay Capital
- Landlord: Terra
- Landlord's Representative: Keith Kurland - Walker & Dunlop
- Loan Type: Permanent financing
The transaction features significant involvement from key players in the real estate finance sector. The lenders, JVP Management and Hudson Bay Capital, played a critical role in facilitating the loan. Keith Kurland from Walker & Dunlop represents the landlord, Terra, in this significant financing agreement.
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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93