Bank OZK Provides $76M Construction Loan For Multifamily Property At 16395 Biscayne Blvd, North Miami Beach
FINANCED
Florida
See Similar DealsMultiFamily2,700 SF
Financed 05/14/2021
FINANCED
Bank OZK Provides $76M Construction Loan For Multifamily Property At 16395 Biscayne Blvd, North Miami Beach
16395 Biscayne Boulevard
See Similar DealsMultiFamily2,700 SF
Financed 05/14/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$28,148
Total Square Footage:2,700 SF
Transaction Type:Loan
The loan for the construction of a multifamily property located at 16395 Biscayne Blvd in North Miami Beach has been finalized. Bank OZK has provided a loan amount of $76,000,000 for this project.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $76,000,000
- Lender: Bank OZK
- Landlord: The Estate Companies - Robert Suris & Jeffrey Ardizon
- Brokers: Bank OZK
The Estate Companies, represented by Robert Suris and Jeffrey Ardizon, are the landlords of this property. The loan for this construction project was provided by Bank OZK.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$76,000,000.00
Monthly NOI$506,666.67
Monthly Debt Service$480,371.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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