Toll Brothers And CanAm Capital Secure $103M Construction Loan For Miami Student Housing
FINANCED
$103,000,000
Florida
See Similar DealsOther75,358 SF
Financed 10/25/2021
FINANCED
Toll Brothers And CanAm Capital Secure $103M Construction Loan For Miami Student Housing
765 Southwest 110th Avenue, Miami, FL 33174, USA
See Similar DealsOther75,358 SF
Financed 10/25/2021
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$1,366
Total Square Footage:75,358 SF
Transaction Type:Loan
The student housing property located at 765 SW 110th Avenue in Miami has been involved in a closed transaction.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $103,000,000
- Address: 765 SW 110th Avenue
- Market: Miami
- Asset Type: Student Housing
- Acres: 1.72
- Lender: Ocean Bank
- Landlord: Toll Brothers - Douglas C. Yearley, Jr. & CanAm Capital
The transaction involves a construction loan with Ocean Bank providing a loan amount of $103,000,000. Toll Brothers, represented by Douglas C. Yearley, Jr. and CanAm Capital, acts as the landlord in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$103,000,000.00
Monthly NOI$686,666.67
Monthly Debt Service$651,030.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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