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City National Bank Provides $25 Million Construction Loan For Office At 2871 Oak Avenue

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FINANCED
$25,000,000
Matthew (Matt) Nihan
Scott Wadler
Patrick Johnson

Florida

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Office50,000 SF
Financed 12/31/2024
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Property Image
FINANCED

City National Bank Provides $25 Million Construction Loan For Office At 2871 Oak Avenue

2871 Oak Avenue

See Similar Deals
Office50,000 SF
Financed 12/31/2024
Matthew (Matt) Nihan
Scott Wadler
Patrick Johnson
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$500
Total Square Footage:50,000 SF
Transaction Type:Loan

2871 Oak Avenue is an office asset located in Miami, featuring a total of 50,000 square feet. The transaction involves a construction loan amounting to $25,000,000, structured as a three-year, full-term interest-only loan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $25,000,000
  • Lender: City National Bank
  • Landlord: Andy Gilon Moreno, Nadav Goshen & Gabriel Marcano - Vizcaya Capital; Carlos Imery & Richard Kulick - Beacon Real Estate Group
  • Brokers: Scott Wadler, Matthew (Matt) Nihan & Patrick Johnson - Berkadia
  • Date: 12/31/2024

The deal features participation from multiple key individuals and firms, with Andy Gilon Moreno, Nadav Goshen, and Gabriel Marcano representing Vizcaya Capital, while Carlos Imery and Richard Kulick represent Beacon Real Estate Group. The transaction was brokered by Scott Wadler, Matthew (Matt) Nihan, and Patrick Johnson from Berkadia.

Players

Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Matthew (Matt) Nihan
Berkadia
Matthew Nihan
23 deals$724.2M volume
BROKER
Patrick Johnson
Berkadia
Patrick Johnson
20 deals$1.7B volume(901) 425-1828
BROKER
City National Bank of Florida
City National Bank of Florida
LENDER

Details

FINANCED
IMAGE: Gabriel Marcano, Patrick Johnson, Andy Gilon Moreno, Scott Wadler, Nadav Goshen & Matthew Nihan DATE: 12/31/2024 ADDRESS: 2871 Oak Avenue MARKET: Miami ASSET TYPE: Office ~ SF: 50,000 LENDER: City National Bank (@CityNationalBank) LANDLORD: Andy Gilon Moreno, Nadav Goshen & Gabriel Marcano - Vizcaya Capital; Carlos Imery & Richard Kulick - Beacon Real Estate Group BROKERS: Scott Wadler (@SWadler1), Matthew (Matt) Nihan & Patrick Johnson (@P.s.Johnson) - Berkadia (@Berkadia) LOAN AMOUNT: $25,000,000 LOAN TYPE: Construction LOAN TERMS: Three-year, full-term interest only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,000,000.00

Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00