Vertix Group Provides $10M Bridge Loan For Office Property At 888 Brickell Avenue In Brickell, Miami
FINANCED
$10,000,000
Florida
See Similar DealsOffice
Financed 07/24/2023
FINANCED
Vertix Group Provides $10M Bridge Loan For Office Property At 888 Brickell Avenue In Brickell, Miami
888 Brickell Avenue
See Similar DealsOffice
Financed 07/24/2023
Summary
FLORIDA
Asset Type:Office
Transaction Type:Loan
The property asset involved in the transaction is located at 888 Brickell Avenue in Brickell, Miami. It is classified as an office space with a total area of 53,189 square feet. The loan amount secured for this property is $10,000,000, categorized under bridge loan type.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,000,000
- Loan Type: Bridge
- Address: 888 Brickell Avenue
- Market: Brickell, Miami
- Lender: Vertix Group
- Lender Representatives: Frank Hermosa & Albert Arisso
The deal involves key individuals representing the lender, with Frank Hermosa and Albert Arisso acting as representatives from Vertix Group. They facilitated the loan processed for the office asset in Miami.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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