James Curnin Of Clara Homes Secures $53.6 Million Loan From Maxim Capital Group For Bay Harbor Islands Multifamily Project
FINANCED
$53,600,000
+ 4
Florida
See Similar DealsMultiFamily78,830 SF
Financed 08/07/2024
FINANCED
James Curnin Of Clara Homes Secures $53.6 Million Loan From Maxim Capital Group For Bay Harbor Islands Multifamily Project
100th Street
See Similar DealsMultiFamily78,830 SF
Financed 08/07/2024
+ 4
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$679
Total Square Footage:78,830 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 1145-1163 100th Street in Bay Harbor Islands, comprising 45 units. The construction loan for this asset amounted to $53,600,000, facilitated through Maxim Capital Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,600,000
- Lender: Maxim Capital Group – Adam Glick
- Landlord: James Curnin - Clara Homes
- Brokers: Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Ianno, Christopher de Raet & Marlon Robins - Walker & Dunlop
- Loan Type: Construction
Key individuals in this transaction include Adam Glick representing Maxim Capital Group as the lender, and James Curnin as the landlord associated with Clara Homes. The brokerage team from Walker & Dunlop played a critical role in orchestrating the loan, with all brokers mentioned actively involved in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,600,000.00
Monthly NOI$357,333.33
Monthly Debt Service$338,788.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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