FINANCED
Intercredit Provides $3.75M Refinance Loan For Retail Property In Miami Beach
1908 Collins Avenue
Retail
7,099 SF
7,099 SF
Financed 229 days ago
Summary
Loan
FLORIDA
Retail
7,099 sqft
The retail property located at 1908 Collins Avenue in Miami Beach has been involved in a loan transaction. The property spans 7,099 square feet and is owned by Miguel Chibras.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,750,000
- Loan Type: Refinance
- Loan Terms: 7.62% Interest Rate, 25 Year Amort w/ a 10 Year Term
The lender for this transaction was Intercredit. The loan amount for the refinance was $3,750,000 with a 7.62% interest rate. The loan terms included a 25-year amortization period with a 10-year term.
Robert Bhat from Marcus & Millichap represented Miguel Chibras as the broker in this deal. It is worth noting that this loan was a cash-out refinance for the landlord of 1908 Collins Ave, who has a lease agreement with Baoli for 13 years. Baoli recently renovated the property and is now under new management.
For financing requests related to this transaction, interested parties can reach out to Robert Bhat at [email protected].
Players
All
3
Agents
1
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Robert Bhat
DATE: 10/06/2023
ADDRESS: 1908 Collins Avenue
MARKET: Miami Beach
ASSET TYPE: Retail ~ SF: 7,099
LENDER: Intercredit (@IntercreditSolution)
LANDLORD: Miguel Chibras
BROKER: Robert Bhat (@_Bhat___) - Marcus & Millichap (@MarcusMillichapinc)
LOAN AMOUNT: $3,750,000
LOAN TYPE: Refinance
LOAN TERMS: 7.62% Interest Rate, 25 Year Amort w/ a 10 Year Term
NOTE FROM BROKER: This was a cash-out refinance for the landlord of 1908 Collins Ave, which has a lease to Baoli for 13 years. The tenant recently renovated the property and is now under new management.
Please reach out to [email protected] for financing requests.View on map
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Address1908 Collins Avenue
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