MSD Capital Provides $15M Loan For Mixed-Use Property In Miami
501-511 Southwest 3rd Avenue, Miami, Florida, USA
$15,000,000
$55/SF
Building Size
270,072 SF
Asset Type
Mixed-use
Closing
Mar 23, 2021
AI
The Chetrit Group, led by Joseph Chetrit and Meyer Chetrit, has secured a loan of $15,000,000 for a mixed-use property in Miami. The property spans across 6.2 acres and is located in the Miami market. The loan was provided by MSD Capital, headed by Michael Dell.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $15,000,000
- Market: Miami
- Acres: 6.2
This deal involved the Chetrit Group as the landlord, represented by Joseph Chetrit and Meyer Chetrit. MSD Capital, led by Michael Dell, acted as the lender in this transaction.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93