David Martin Of Terra Secures $183.75M Bridge Loan From Matt Philips & Kyle Asher In Bay Harbor Islands
1177 Kane Concourse, Bay Harbor Islands, Fl 33154
$183,750,000
Building Size
—
Asset Type
Office
Closing
Oct 13, 2026
About this deal
AI
The property asset involved in this transaction is an office located at 1177 Kane Concourse in Bay Harbor Islands, FL. The loan amount secured for this asset is $183,750,000, and it is categorized under bridge loan types.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $183,750,000
- Lender: Matt Philips & Kyle Asher - Monroe Capital
- Borrower: David Martin - Terra
- Brokers: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella & Jason Schwartzberg - Walker & Dunlop
This deal involves multiple key individuals, including lenders and brokers. The brokers representing the transaction are part of Walker & Dunlop, contributing their expertise to facilitate the loan process. The collaboration between the various parties highlights the structured approach taken in this financing arrangement.
On the Map
$183,750,000
Office
View full map
Players
Bay Harbor Islands Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse Florida office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93