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

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FINANCED
$120,000,000

Florida

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Office220,000 SF
Financed 02/10/2023
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Property Image
FINANCED

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

2616 North Miami Avenue

See Similar Deals
Office220,000 SF
Financed 02/10/2023
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$545
Total Square Footage:220,000 SF
Transaction Type:Loan

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
57 deals$3.1B volume(305) 267-6608
BROKER

Christopher (Chris) Apone
Berkadia
49 deals$2.4B volume
BROKER

Robert Iudice
Berkadia
4 deals$330M volume
BROKER

A10 Capital
LENDER

Details

FINANCED
IMAGE: Aron Rosenberg, Charles Foschini, Robert Iudice & Christopher Apone DATE: 02/10/2023 ADDRESS: 2616 North Miami Avenue MARKET: Wynwood ASSET TYPE: Office ~ SF: 220,000 LENDER: A10 Capital LANDLORD: RB Realty Group LANDLORD'S REP: Charles Foschini (@Gladesman1), Christopher (Chris) Apone & Robert Iudice (@Robiudice) - Berkadia (@Berkadia) BORROWER: Aron Rosenberg - R&B Realty Group LOAN AMOUNT: $113,000,000 LOAN TYPE: Refinance LOAN TERMS: three-year loan, with two, one-year extension options

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$120,000,000.00

Monthly NOI$800,000.00
Monthly Debt Service$758,481.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00