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1 Alhambra Plaza, Coral Gab...

Värde Partners Provides $71.6M Loan For Office Property At 1 Alhambra Plaza In Miami
FINANCEDOffice

Värde Partners Provides $71.6M Loan For Office Property At 1 Alhambra Plaza In Miami

1 Alhambra Plaza, Coral Gables, Miami-Dade, FL, USA

$71,600,000

$276/SF

Building Size

258,736 SF

Asset Type

Office

Closing

Dec 15, 2020

AI

An office property located at 1 Alhambra Plaza in Miami has been involved in a recent closed transaction. The property spans a total area of 263,200 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $71,600,000
  • Market: Miami

The loan for this transaction was provided by Värde Partners. The loan amount was $71,600,000, and the terms of the loan were set at 4 years with a floating interest rate.

The landlord in this transaction is USAA Real Estate. JLL Capital Markets represented all parties involved in the deal, including Paul Stasaitis, Wally Reid, Gerard Sansosti, and Reid Carleton.

Players

Reid Carleton

JLL

Broker

$653.4M

vol

12 deals

Broker
USAA Real Estate
USAA Real EstateLender
USAA Real Estate
USAA Real EstateLandlord

Coral Gables Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93