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FinanceMiami Provides $9.5M Refinance Loan For Wynwood Office Property

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FINANCED
$9,500,000

Florida

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Office46,000 SF
Financed 10/28/2022
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Property Image
FINANCED

FinanceMiami Provides $9.5M Refinance Loan For Wynwood Office Property

89 Northeast 27th Street & 89 NE 27th St, Miami, FL 33137, USA

See Similar Deals
Office46,000 SF
Financed 10/28/2022
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$206
Total Square Footage:46,000 SF
Transaction Type:Loan

Wellmeaning Spaces, owned by Eduardo Pelaez, has refinanced its office property located at 89 NE 27th St in Wynwood, Miami. The office spans approximately 23,000 square feet. The refinance loan was provided by FinanceMiami, with a loan amount of $9,500,000.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $9,500,000
  • Address: 89 NE 27th St
  • Market: Wynwood, Miami
  • Landlord: Wellmeaning Spaces - Eduardo Pelaez
  • Lender: FinanceMiami
  • Broker: Emile Schachter - FinanceMiami

Emile Schachter, representing FinanceMiami, facilitated the refinancing deal for Wellmeaning Spaces. This transaction allows Wellmeaning Spaces to benefit from improved financing terms and potentially pursue further investments or improvements to their office property.

Players

22 deals$419.9M volume
BROKER

FinanceMiami
LENDER

Eduardo Pelaez
9 deals$131.5M volume
LANDLORD

Eduardo Pelaez
9 deals$131.5M volume
LANDLORD

Eduardo Pelaez
9 deals$131.5M volume
LANDLORD

Eduardo Pelaez
9 deals$131.5M volume
LANDLORD

Details

FINANCED
IMAGE: Emile Schachter DATE: 10/28/2022 ADDRESS: 89 NE 27th St MARKET: Wynwood, Miami ASSET TYPE: Office ~ SF: 23,000 LENDER: FinanceMiami LANDLORD: Wellmeaning Spaces - Eduardo Pelaez BROKER: Emile Schachter (@EmileSchachter) - FinanceMiami (@FinanceMiamifl) LOAN AMOUNT: $9,500,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,500,000.00

Monthly NOI$63,333.33
Monthly Debt Service$60,046.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00