$13M Refinance Loan Secured For Miami Office Building On South Biscayne Boulevard
315 South Biscayne Boulevard
$13,000,000
Building Size
—
Asset Type
Office
Closing
Dec 22, 2023
AI
The recently completed closed transaction involves a commercial property located at 315 South Biscayne Boulevard in Miami. This office asset, owned by Gildenson Real Estate LLC and represented by Eduardo Gildenson, has undergone a refinancing process through a loan provided by Ricardo Loor from International Preferred Banking. The loan amount for this transaction was $13,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,000,000
- Lender: Ricardo Loor - International Preferred Banking
- Landlord: Gildenson Real Estate LLC - Eduardo Gildenson
Ricardo Loor from International Preferred Banking has facilitated the refinancing of this office property. International Finance Bank, of which International Preferred Banking is a part, proudly operates as an Equal Housing Lender and is a Member of the Federal Deposit Insurance Corporation.
Players
North Miami 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93