Bank Of China Loans $340M For Resort In Aventura, Miami
19999 East Country Club Drive, Aventura, FL, USA
$340,000,000
$2,833/SF
Building Size
120,000 SF
Asset Type
Other
Closing
Jun 26, 2019
About this deal
AI
A $340 million loan has been secured for a resort property located at 19999 W Country Club Drive in Aventura, Miami. The property, spanning 120,000 square feet, is owned by Jeffrey Soffer’s Fontainebleau Development. The loan was provided by the Bank of China, and the transaction took place on June 27, 2019.
Summary of transaction details
- Property Type: Resort
- Transaction Amount: $340,000,000
- Address: 19999 W Country Club Drive
- Market: Aventura
- City: Miami
- Square Footage: 120,000
- Landlord: Jeffrey Soffer’s Fontainebleau Development
- Lender: Bank of China
- Brokers: Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani
Jordan Roeschlaub, Dustin Stolly, Chris Kramer, and Nick Scribani served as the brokers in this transaction for the resort property. Their involvement helped facilitate the loan deal between the Bank of China and Jeffrey Soffer’s Fontainebleau Development.
Players
Miami 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93