Amerant Bank Provides $30M Refinance Loan For Retail Property On NE 79th Street In Miami
FINANCED
$30,000,000
Florida
See Similar DealsRetail350,000 SF
Financed 12/09/2021
FINANCED
Amerant Bank Provides $30M Refinance Loan For Retail Property On NE 79th Street In Miami
591 Northeast 79th Street, Miami, FL 33138
See Similar DealsRetail350,000 SF
Financed 12/09/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$85
Total Square Footage:350,000 SF
Transaction Type:Loan
Located at 591 NE 79th Street in Miami, the Midpoint Shopping Center is a retail property spanning 350,000 square feet. The property was involved in a recent transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Lender: amerant''>Amerant Bank
- Landlord: Global Fund Investments & MMG Equity Partners
- Brokers: Doron Valero - Global Fund Investments & Gabe Navarro - MMG Equity Partners
In this deal, a refinance loan in the amount of $30,000,000 was secured by the property. Amerant Bank provided the loan to the landlord, Global Fund Investments, and MMG Equity Partners. The transaction involved the representation of the two parties by their respective brokers, Doron Valero from Global Fund Investments and Gabe Navarro from MMG Equity Partners.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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