Brickman Secures $31M Loan For Downtown Miami Office Building
FINANCED
$31,000,000
Florida
See Similar DealsOffice142,000 SF
Financed 04/11/2019
FINANCED
Brickman Secures $31M Loan For Downtown Miami Office Building
200 Southeast 1st Street, Downtown Miami, Miami, FL, USA
See Similar DealsOffice142,000 SF
Financed 04/11/2019
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$218
Total Square Footage:142,000 SF
Transaction Type:Loan
The property involved in this transaction is an office building located at 200 Southeast 1st Street in Downtown Miami. The transaction took place on April 11, 2019. The property spans 142,000 square feet and is owned by Brickman. The building was constructed in 1958 and features street-level retail space with tenants including The Spot Barbershop, as well as a diverse roster of office tenants.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,000,000
- Market: Downtown Miami
- City: Miami
The lender in this deal was Värde Partners. The brokers involved in the transaction were Dustin Stolly, Jordan Roeschlaub, Chris Kramer, and Josh Egert from NKF Capital Markets.
It's worth noting that Jordan Roeschlaub, Dustin Stolly, and Josh Egert's image was shared in relation to this transaction.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,000,000.00
Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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