Tricera Capital & LNDMRK Acquires Wynwood Office Building In Miami For $27.5M
FINANCED
$27,500,000
Florida
See Similar DealsOffice100,439 SF
Financed 04/20/2021
FINANCED
Tricera Capital & LNDMRK Acquires Wynwood Office Building In Miami For $27.5M
230 Northwest 24th Street, Wynwood, Miami, FL, USA
See Similar DealsOffice100,439 SF
Financed 04/20/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$273
Total Square Footage:100,439 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 230 NW 24 St. & 2200-2220 NW 1st Ct in the Wynwood market of Miami. The acquisition loan for this property amounts to $27,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,500,000
- Lender: Amerant Bank/Glacier Global Partners
- Landlord: Tricera Capital & LNDMRK
- Brokers: Scott Wadler & Michael Basinski
The key individuals involved in this transaction include Scott Wadler and Michael Basinski, who acted as the brokers representing the deal. The lenders, Amerant Bank and Glacier Global Partners, facilitated the acquisition loan, while the landlords are Tricera Capital and LNDMRK.
Players
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,500,000.00
Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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