Blackstone Provides $135M Loan For Wynwood Office Building
545 Northwest 26th Street, Miami, FL 33127
$135,000,000
$416/SF
Building Size
324,340 SF
Asset Type
Office
Closing
Jan 6, 2022
About this deal
AI
Located at 545 NW 26th Street in Wynwood, Miami, this office property covers an area of 324,340 square feet. The transaction took place on January 6, 2022. The loan amount for this property was $135,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $135,000,000
- Lender: blackstone''>Blackstone - Stephen A. Schwarzman
- Landlord: Sterling Bay - Andy Gloor
In this deal, the lender for the loan was Blackstone, represented by Stephen A. Schwarzman. The landlord of the property was Sterling Bay, represented by Andy Gloor.
Players
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93