Updated Dec 4, 2024
Genx Capital Partners Provides $9M Debt-Equity Loan For Miami Beach Package Deal
1018 Jefferson Avenue
$9,000,000
$600/SF
Building Size
15,000 SF
Asset Type
Package Deal
Closing
Dec 14, 2022
About this deal
AI
A package deal consisting of two properties located at 1018 Jefferson Avenue and 1545 Meridian Avenue in Miami Beach has been closed. The total square footage of the properties is 15,000.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $9,000,000
- Lender: Genx Capital Partners - Mark McClure
- Landlord: Neal Deputy
- Loan Type: Debt-Equity Combination
The lender of the deal was Genx Capital Partners represented by Mark McClure. Neal Deputy served as the landlord in the transaction.
The package deal loan at 1018 Jefferson Avenue in Miami Beach, Florida financed for $9M in 2022. The building is 15,000 square feet, implying about 600 per square foot on the published price. Named participants on the 1018 Jefferson Avenue loan are Neal Deputy. This page is the Miami Beach, Florida file for the 1018 Jefferson Avenue package deal financed: pricing, party profiles, and other closed package deal comps from the same Miami Beach sit in the Market section below. Filter that Miami Beach package deal set by closing date to see what else financed near 1018 Jefferson Avenue around 2022. Published consideration for 1018 Jefferson Avenue is $9M, dated 2022. Cite this Genx Capital Partners Provides $9M Debt-Equity Loan For Miami Beach Package Deal loan when underwriting similar package deal product around Miami Beach, Florida.
Players
Miami Beach Package Deal Market Snapshot
Boundary boundary · Package Deal · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93