Marcus & Millichap Capital Corp Arranges $19.5M Loan For Hollywood Garage
101 North Ocean Drive, Hollywood, Florida 33019, United States
$19,500,000
$314,516/SF
Building Size
62 SF
Asset Type
Other
Closing
Aug 23, 2022
About this deal
AI
The Jaffe Group has closed a transaction for a garage asset located at 101 N Ocean Drive in Hollywood. The garage spans approximately 62,713 square feet and sits on a 4.82-acre lot. The deal was facilitated by broker Jared Cassidy from Marcus & Millichap Capital Corporation.
Summary of transaction details:
- Property Type: Garage
- Transaction Amount: $19,500,000
- Date: 08/23/2022
- Address: 101 N Ocean Drive
- Market: Hollywood
- Asset Type: Garage
- Square Footage: 62,713
- Acres: 4.82
The Jaffe Group, acting as the landlord, closed the deal with the assistance of Jared Cassidy from Marcus & Millichap Capital Corporation. The terms of the loan include a ten-year fixed-rate loan with a 25-year amortization schedule.
Hollywood Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93