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Banesco Bank Provides $78 Million Construction Loan For Multifamily Property In Davie

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FINANCED
$78,000,000

Florida

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MultiFamily256,109 SF
Financed 12/20/2024
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FINANCED

Banesco Bank Provides $78 Million Construction Loan For Multifamily Property In Davie

5079 Southwest 48th Street

See Similar Deals
MultiFamily256,109 SF
Financed 12/20/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$304
Total Square Footage:256,109 SF
Transaction Type:Loan

The property asset involved in this transaction is located at 5079 Southwest 48th Street in Davie. It is classified as a multifamily asset, consisting of 347 units and encompassing a total square footage of 256,109. The loan amount secured for construction purposes is $78,000,000, provided by Banesco Bank.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $78,000,000
  • Units: 347
  • Square Feet: 256,109
  • Address: 5079 Southwest 48th Street
  • Market: Davie
  • Lender: Banesco Bank
  • Landlord: Ignacio DuQuesne, Jeffrey Ardizon, Robert Suris & Alejandro Arrieta - The Estate Companies

This transaction involves key individuals including Ignacio DuQuesne, Jeffrey Ardizon, Robert Suris, and Alejandro Arrieta, who represent The Estate Companies as the landlords in this construction loan deal.

Players

Banesco USA
Banesco USA
LENDER

Details

FINANCED
IMAGE: Ignacio DuQuesne, Jeffrey Ardizon, Robert Suris & Alejandro Arrieta DATE: 12/20/2024 ADDRESS: 5079 Southwest 48th Street MARKET: Davie ASSET TYPE: Multifamily ~ UNITS: 347 ~ SF: 256,109 LENDER: Banesco Bank LANDLORD: Ignacio DuQuesne, Jeffrey Ardizon, Robert Suris & Alejandro Arrieta - The Estate Companies (@TheEstateCompanies) LOAN AMOUNT: $78,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$78,000,000.00

Monthly NOI$520,000.00
Monthly Debt Service$493,013.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00