Cooper Horowitz Facilitates $419.6M Panorama Tower Refinance In Miami
1100 Brickell Bay Drive
$419,600,000
Building Size
—
Asset Type
Office
Closing
Feb 15, 2024
About this deal
AI
Panorama Tower, located at 1100 Brickell Bay Drive in Miami, FL, is a mixed-use property that consists of 821 apartments, a 208-key Hyatt Centric Hotel, 112,700 square feet of offices, 25,200 square feet of retail space, and a 2,000-space garage. With a height of 868 feet, it stands as the tallest residential tower on the Eastern Seaboard south of New York.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $419,600,000
- Loan Type: Refinance
- Broker: Bruce Marcus - Cooper Horowitz
Bruce Marcus from Cooper Horowitz represented the parties involved in securing the $419,600,000 refinance loan for the Panorama Tower. For further details on the transaction, inquiries can be directed to [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93