FM Capital Provides $9.7M Loan For Retail Property In Miami
FINANCED
$9,700,000
Florida
See Similar DealsRetail25,000 SF
Financed 12/07/2020
FINANCED
FM Capital Provides $9.7M Loan For Retail Property In Miami
3470 North Miami Avenue, Miami, FL, USA
See Similar DealsRetail25,000 SF
Financed 12/07/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$388
Total Square Footage:25,000 SF
Transaction Type:Loan
3470 North Miami Avenue in Miami has recently undergone a closed property transaction. The retail property, which was handled by Noam Temchin of FM Capital, secured a loan of $9,700,000 from FM Capital. The loan terms have been finalized and the transaction was successfully closed just 16 days after the initial application.
Summary of Transaction Details
- Property Type: Retail
- Loan Amount: $9,700,000
- Address: 3470 North Miami Avenue, Miami
- Market: Miami
Noam Temchin of FM Capital served as the broker representative for this transaction. The loan was secured efficiently and swiftly, with the entire process from application to closing taking only 16 days.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,700,000.00
Monthly NOI$64,666.67
Monthly Debt Service$61,310.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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