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Albert Arisso & Frank Hermosa Of Vertix Group Lend $21.5M For Office And Land In Miami Beach And Fort Lauderdale

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FINANCED
$21,500,000

Florida

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Office424,616 SF
Financed 01/07/2025
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FINANCED

Albert Arisso & Frank Hermosa Of Vertix Group Lend $21.5M For Office And Land In Miami Beach And Fort Lauderdale

1234 Washington Avenue, 1260 Washington Avenue, 3100 Northeast 32nd Avenue & 3051 Northeast 33rd Avenue

See Similar Deals
Office424,616 SF
Financed 01/07/2025
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$50
Total Square Footage:424,616 SF
Transaction Type:Loan

The property asset involved in this transaction encompasses office and land across multiple locations: 1234, 1260 Washington Avenue, 3100 Northeast 32nd Avenue, and 3051 Northeast 33rd Avenue, totaling a square footage of 106,154. The transaction was recorded in the Miami Beach and Fort Lauderdale markets, with a loan amount of $21,500,000 dedicated to acquisition purposes.

Summary of transaction details:

  • Property Type: Office & Land
  • Transaction Amount: $21,500,000
  • Lender: Albert Arisso & Frank Hermosa - Vertix Group
  • Landlord: Bradley Williams - Willstrat; Kash Patel & Andrew Beachler
  • Broker: Wilson Alers - DWNTWN Realty Advisors
  • Attorney: James Govin - Hermann & Govin

This transaction features prominent individuals and companies, including Albert Arisso and Frank Hermosa representing the lending entity, Vertix Group. The landlord group includes Bradley Williams from Willstrat alongside Kash Patel and Andrew Beachler. The transaction was facilitated by Wilson Alers of DWNTWN Realty Advisors, with legal representation by James Govin from Hermann & Govin.

Players

Wilson Alers
1 deal$21.5M volume(305) 647-0980
BROKER

Vertix Group
LENDER

Details

FINANCED
IMAGE: Frank Hermosa, Albert Arisso & Wilson Alers DATE: 01/07/2025 ADDRESS: 1234, 1260 Washington Avenue, 3100 Northeast 32nd Avenue & 3051 Northeast 33rd Avenue MARKET: Miami Beach & Fort Lauderdale ASSET TYPE: Office & Land ~ SF: 106,154 LENDER: Albert Arisso & Frank Hermosa - Vertix Group LANDLORD: Bradley Williams - Willstrat; Kash Patel & Andew Beachler BROKER: Wilson Alers (@WillieAlers) - DWNTWN Realty Advisors (@DWNTWNRealtyAdvisors) ATTORNEY: James Govin - Hermann & Govin LOAN AMOUNT: $21,500,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,500,000.00

Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00