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
About this deal
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.
On the Map
$120,000,000
$545/SF
Office
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Players
Market Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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