Continental Partners Provides $22M Loan For Retail Property On Lincoln Road In Miami Beach
532-560 Lincoln Road, Miami Beach, FL, USA
$22,000,000
$456/SF
Building Size
48,245 SF
Asset Type
Retail
Closing
Feb 23, 2021
AI
The retail property located at 532-560 Lincoln Road in Miami Beach has been involved in a recent transaction. The loan for this property was secured on February 24, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $22,000,000
- Lender: Continental Partners
- Landlord: The Denison Corp
- Brokers: Chase Calderon & Andrew Sawyer
The loan for this property was provided by Continental Partners at a rate of 3.95%. The loan terms include a 10-year fixed term with the first 5 years being interest only. The loan has a 30-year amortization schedule and does not have a prepayment penalty.
Players
Miami Beach 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93