LV Lending Provides $20.3M Construction Loan For Bay Harbor Islands MultiFamily
9901 W Bay Harbor Dr Bay Harbor Islands, FL 33154, USA
$20,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 26, 2023
AI
The property involved in the transaction is a multi-family asset located at 9901 West Bay Harbor Drive in Bay Harbor Islands. The loan amount for this transaction is $20,300,000, and it is a construction loan. The lenders in this deal are LV Lending, while the landlord is Alta Developers - Raimundo Onetto. The brokers representing LV Lending in this transaction are Camilo Niño, Ricardo Uribe, and Alen Hernandez.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $20,300,000
- Lender: LV Lending
- Landlord: Alta Developers - Raimundo Onetto
- Brokers: Camilo Niño, Ricardo Uribe, and Alen Hernandez - LV Lending
This transaction brings together a mix of key individuals and companies. Raimundo Onetto, the landlord of the property, represents Alta Developers in this deal. The brokers representing LV Lending are Camilo Niño, Ricardo Uribe, and Alen Hernandez. This construction loan will contribute to the development and enhancement of the multi-family asset at 9901 West Bay Harbor Drive in Bay Harbor Islands.
Players
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
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93