Intercredit Provides $3.75M Refinance Loan For Retail Property In Miami Beach

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].