Property Markets Group And Greybrook Realty Partners Secure $161.5M Loan For Co-living Tower In Downtown Miami
FINANCED
$161,500,000
+ 1
Florida
See Similar DealsOther73,000 SF
Financed
FINANCED
Property Markets Group And Greybrook Realty Partners Secure $161.5M Loan For Co-living Tower In Downtown Miami
400 Biscayne Boulevard, Miami, FL, USA
See Similar DealsOther73,000 SF
Financed
+ 1
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$2212
Total Square Footage:73000 SF
Transaction Type:Loan
A $161,500,000 loan has been secured for a co-living tower located at 400 Biscayne Boulevard in Downtown. The tower consists of 646 units spanning 73,000 square feet. The loan was provided by Centennial Bank and Square Mile Capital.
Summary of transaction details:
- Property Type: Co-living tower
- Transaction Amount: $161,500,000
- Address: 400 Biscayne Boulevard
- Market: Downtown
- Units: 646
- Square Feet: 73,000
The property is owned by Property Markets Group, represented by Kevin Maloney, and Greybrook Realty Partners. The loan was facilitated by Andrew Warman, Jonathan Blank, Lowell Plotkin, and Luis Flores from Saul Ewing Arnstein & Lehr.
Players
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$161,500,000.00
Monthly NOI$1,076,666.67
Monthly Debt Service$1,020,789.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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