facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Office

/

Loan

/

2616 North Miami Avenue

R&B Realty Group Refinances Wynwood Office Building With $113M Loan From A10 Capital
FINANCEDOffice

R&B Realty Group Refinances Wynwood Office Building With $113M Loan From A10 Capital

2616 North Miami Avenue

$120,000,000

$545/SF

Building Size

220,000 SF

Asset Type

Office

Closing

Feb 10, 2023

AI

The office building located at 2616 North Miami Avenue in Wynwood has been involved in a recent loan transaction. The property spans 220,000 square feet and is owned by RB Realty Group. The landlord's representatives for this deal were Charles Foschini, Christopher (Chris) Apone, and Robert Iudice from Berkadia. Aron Rosenberg, representing R&B Realty Group, acted as the borrower in this transaction.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $113,000,000
  • Lender: A10 Capital
  • Loan Type: Refinance
  • Loan Terms: three-year loan, with two, one-year extension options

The loan amount for this transaction was $113,000,000, and it was provided by A10 Capital. The loan type was a refinance, and the terms included a three-year loan with two, one-year extension options. Aron Rosenberg, representing R&B Realty Group, secured this loan. Notably, Charles Foschini, Christopher (Chris) Apone, and Robert Iudice from Berkadia served as the landlord's representatives in this deal.

Players

Charles Foschini

Berkadia

Broker

$3.3B

vol

59 deals

Broker
A10 Capital
A10 CapitalLender

Market Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93