Updated Sep 14, 2026
Terra Group & Cipriani Secure $185M Loan For Coconut Grove Multifamily Property
2655 South Bayshore Drive, Northeast Coconut Grove, Miami, FL, USA
$185,000,000
$5,781/SF
Building Size
32,000 SF
Asset Type
MultiFamily
Closing
Sep 25, 2019
About this deal
AI
The multifamily property located at 2655 South Bayshore Drive in Coconut Grove was involved in a closed transaction. The property consists of 300 units with a total square footage of 32,000. The deal was completed on 09/26/2019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $185,000,000
- Market: Coconut Grove
- Lender: Mack Real Estate Credit Strategies
- Landlord: Terra Group & Cipriani
- Brokers: Marc Sznajderman, Romano Tio, Chris Gathman, Dylan Comras - Ackman-Ziff
The loan amount for the transaction was $185,000,000. The property is owned by Terra Group and Cipriani. The lenders in this deal are Mack Real Estate Credit Strategies. The deal was facilitated by brokers Marc Sznajderman, Romano Tio, Chris Gathman, and Dylan Comras from Ackman-Ziff. The transaction took place in the Coconut Grove market.
On the Map
$185,000,000
$5,781/SF
MultiFamily
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Miami 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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93