Ivy Realty Refinances Fort Lauderdale Office Property For $48.9M With Lender Rialto Capital Management
FINANCED
$48,900,000
Florida
See Similar DealsOffice230,757 SF
Financed 11/01/2021
FINANCED
Ivy Realty Refinances Fort Lauderdale Office Property For $48.9M With Lender Rialto Capital Management
101 Northeast 3rd Avenue, Fort Lauderdale, FL, USA
See Similar DealsOffice230,757 SF
Financed 11/01/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$211
Total Square Footage:230,757 SF
Transaction Type:Loan
The recently closed property transaction in Fort Lauderdale involved an office space located at 101 NE 3rd Ave. The property spans a total area of 230,757 square feet, attracting attention in the market. The deal took place on 11/01/2021, with David Archibald and Melissa Rose featured in the image.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $48,900,000
- Address: 101 NE 3rd Ave
- Market: Fort Lauderdale
- Lender: Rialto Capital Management
- Landlord: Ivy Realty - David Archibald
- Broker: Melissa Rose - JLL Capital Markets
In this transaction, Rialto Capital Management served as the lender, providing a loan amount of $48,900,000. The loan type for this deal was a refinance. Serving as the landlord, Ivy Realty represented by David Archibald played a key role in the transaction. Melissa Rose from JLL Capital Markets acted as the broker, facilitating the deal.
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LENDER
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,900,000.00
Monthly NOI$326,000.00
Monthly Debt Service$309,081.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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