Rick Ross Secures $10.7 Million Loan From Vaster For Star Island Estate In Miami Beach

The asset involved in the transaction is a single-family residence located at 37 Star Island Drive in Miami Beach. This property boasts a total area of 12,400 square feet and is situated on a 1-acre lot. The property is currently valued at a total mortgage principal of $35 million. It features six bedrooms and eight bathrooms, with 100 feet of frontage on Biscayne Bay.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $10,700,000
• Lender: Vaster
• Landlord: Rick Ross
• Total Mortgage Principal: $35,000,000
• Year Purchased: 2023
• Bay Frontage: 100 feet

The deal involves Rick Ross securing an additional $10.7 million in financing for his waterfront estate. The financing is provided by an affiliate of Vaster, contributing to the total mortgage amount, which now stands at $35 million for the property acquired in 2023.