Marcus & Millichap Capital Corp Arranges $19.5M Loan For Hollywood Garage
FINANCED
$19,500,000
Florida
See Similar DealsOther62 SF
Financed 08/23/2022
FINANCED
Marcus & Millichap Capital Corp Arranges $19.5M Loan For Hollywood Garage
101 North Ocean Drive, Hollywood, Florida 33019, United States
See Similar DealsOther62 SF
Financed 08/23/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$314,516
Total Square Footage:62 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,500,000.00
Monthly NOI$130,000.00
Monthly Debt Service$123,253.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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