G4 Capital Partners Provides $46M Acquisition Loan For Development Site In Miami
888 Brickell Avenue
$46,000,000
Building Size
—
Asset Type
Office
Closing
Apr 19, 2024
AI
The development site located at 888 Brickell Avenue in Miami, FL was the subject of an acquisition loan amounting to $46,000,000 provided by G4 Capital Partners to JDS Development Group. The loan was secured for the development of over 250 condominium units in collaboration with Dolce & Gabbana.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $46,000,000
- Lender: G4 Capital Partners
- Landlord: JDS Development Group
- Broker: Tal Bar-or - Lantern Real Estate
- Address: 888 Brickell Avenue
- Market: Miami, FL
- Asset Type: Development Site
The deal involved key individuals such as Tal Bar-or from Lantern Real Estate, facilitating the transaction between the lender and the landlord. Other notable figures in the deal included Jason Behfarin, Robyn Sorid, Christopher Goetz, and Robert Palumbo.
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93