Terranova's Stephen Bittel Refinances Miami Retail Property For $40M With Banco Popular
16867 NW 67th Avenue Miami Lakes, FL 33015
$40,000,000
$441/SF
Building Size
90,621 SF
Asset Type
Retail
Closing
Jan 21, 2022
AI
The retail property located at 16867 NW 67th Avenue in Miami was involved in a recent loan transaction. The property has a total square footage of 90,621 and is owned by Terranova, represented by Stephen Bittel. The loan was provided by Banco Popular in the amount of $40,000,000, and it was a refinancing deal.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $40,000,000
- Address: 16867 NW 67th Avenue, Miami
- Market: Miami
- Landlord: Terranova - Stephen Bittel
- Lender: Banco Popular
Stephen Bittel, representing Terranova, was the landlord in this transaction, while Banco Popular provided the loan. The refinancing deal involved the retail property with a total square footage of 90,621 in Miami.
Players
Hialeah Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93