Ricardo Garbati & Anthony Martinez From City National Bank Of Florida Lend $25M To Winston Capital Management
$25,000,000
Building Size
—
Asset Type
Other
Closing
May 29, 2024
About this deal
AI
Ricardo Garbati, Private Banking Executive SVP, and Anthony Martinez, Director of Direct Lending SVP from City National Bank of Florida, acted as lenders in a financing deal regarding a lending facility in Miami. The borrowers of the $25,000,000 loan on loan facility were David Burstyn, CEO of Winston Capital Management.
Summary of transaction details:
- Property Type: Lending Facility
- Transaction Amount: $25,000,000
- Lender: Ricardo Garbati, Private Banking Executive SVP & Anthony Martinez, Director of Direct Lending SVP - City National Bank of Florida
- Borrower: David Burstyn, CEO - Winston Capital Management
- Loan Type: Loan on Loan Facility
- Loan Terms: Revolving Line of Credit
The lending facility was provided by City National Bank of Florida to Winston Capital, which specializes in offering business purpose loans to real estate investors.
Players
Market 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93