Meridian Capital Group Arranges $7.9M Refinance Loan For Miami Retail Property
$7,900,000
Building Size
—
Asset Type
Package Deal
Closing
Mar 30, 2023
AI
Mendy Spielman and Morris Diamant of Meridian Capital Group brokered a $7,900,000 refinance loan for a retail property in Miami, FL. The loan was secured with a 5-year term at a 5.35% interest rate. There is no prepayment penalty associated with the loan.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,900,000
- Loan Type: Refinance
- Loan Terms: 5-year term, 5.35% interest rate, no prepayment penalty
- Brokers: Mendy Spielman & Morris Diamant - Meridian Capital Group
Mendy Spielman and Morris Diamant, representing Meridian Capital Group, played a key role in facilitating the loan for this retail property in Miami, FL.
Players
Market 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
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93