Updated Jul 18, 2025
James Curnin Of Clara Homes Secures $35 Million Refinance Loan From Dwight Mortgage Trust
10281 East Bay Harbor Drive
$35,000,000
Units
28
Asset Type
MultiFamily
Closing
Jul 18, 2025
About this deal
AI
The asset involved in this transaction is a six-story multifamily property located at 10281 East Bay Harbor Drive in Bay Harbor Islands, comprising 28 units. The loan amount provided for this asset is $35,000,000, categorized under refinance type financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Lender: Dwight Mortgage Trust
- Landlord: James Curnin - Clara Homes
- Broker: Adam Schwartz - Walker & Dunlop
- Loan Type: Refinance
- Units: 28
- Market: Bay Harbor Islands
Key individuals involved in the transaction include James Curnin, who represents Clara Homes, and Adam Schwartz, who facilitated the financing arrangement through Walker & Dunlop. The financing is intended to pay off an existing construction note, fund an interest reserve, and cover transaction costs associated with the property.
On the Map
$35,000,000
MultiFamily
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Bay Harbor Islands MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93