City National Bank Provides $16.5M Loan For Acquisition On 11731 Mills Dr In Miami
FINANCED
$16,500,000
Florida
See Similar DealsOffice66,450 SF
Financed 04/08/2022
FINANCED
City National Bank Provides $16.5M Loan For Acquisition On 11731 Mills Dr In Miami
11731 Mills Drive, Miami, Florida 33183, United States
See Similar DealsOffice66,450 SF
Financed 04/08/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$248
Total Square Footage:66,450 SF
Transaction Type:Loan
Located at 11731 Mills Dr in Miami, this office property spans a total of 63,206 square feet. The transaction took place on 04/08/2022, with Beacon Real Estate Group serving as the landlord and City National Bank providing a loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,500,000
- Loan Type: Acquisition
- Lender: City National Bank
- Landlord: Beacon Real Estate Group
- Brokers: Scott Wadler, Matt Nihan, and Mike Basinski - Berkadia
The loan, provided by City National Bank, amounted to $16,500,000 for the acquisition of this office property. Represented by Scott Wadler, Matt Nihan, and Mike Basinski of Berkadia, the deal showcases the collaboration between the buyers and sellers in this transaction.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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