Pacific National Bank Provides $6.4 Million Refinance Loan For Retail Asset In Miami
FINANCED
$6,400,000
Florida
See Similar DealsRetail18,385 SF
Financed 11/26/2024
FINANCED
Pacific National Bank Provides $6.4 Million Refinance Loan For Retail Asset In Miami
Retail18,385 SF
Financed 11/26/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$348
Total Square Footage:18,385 SF
Transaction Type:Loan
The asset involved in this transaction is a retail property located in Miami, spanning a total of 18,385 square feet. The property was refinanced with a loan amount of $6,400,000. The lender for this transaction was Pacific National Bank.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,400,000
- Loan Type: Refinance
- Lender: Pacific National Bank
- Brokers: Michael Kesselman & Mindy Bergman - Meridian Capital Group
- Date: 11/26/2024
The deal was represented by brokers Michael Kesselman and Mindy Bergman from Meridian Capital Group, who facilitated the loan refinance for the retail property in Miami. Their involvement highlights the collaboration of seasoned professionals in securing financing for this asset.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,400,000.00
Monthly NOI$42,666.67
Monthly Debt Service$40,452.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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