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Winston Capital Management Provides $13.2M Acquisition Loan For Coral Gables Development Site

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FINANCED
$13,200,000

Florida

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Single Family72,310 SF
Financed 01/16/2024
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FINANCED

Winston Capital Management Provides $13.2M Acquisition Loan For Coral Gables Development Site

480 Casuarina Concourse

See Similar Deals
Single Family72,310 SF
Financed 01/16/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$182
Total Square Footage:72,310 SF
Transaction Type:Loan

A development site located at 480 Casuarina Concourse in Coral Gables has been involved in a recent loan transaction. The property spans approximately 72,300 square feet, making it a sizable asset in the market.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $13,200,000
  • Market: Coral Gables
  • Lender: David Burstyn - Winston Capital Management

David Burstyn from Winston Capital Management provided a loan of $13,200,000 as an acquisition loan for this development site. The loan has a term of 2 years, offering the necessary financial support for the project's progression.

It's worth noting that the lender, Winston Capital Management, expressed satisfaction in collaborating with the development team on this A+ asset.

Players

David Burstyn
Winston Capital Management
David Burstyn
37 deals$694.4M volume
LENDER

Details

FINANCED
IMAGE: David Burstyn DATE: 01/16/2024 ADDRESS: 480 Casuarina Concourse MARKET: Coral Gables ASSET TYPE: Development Site ~ SF: 72,300 LENDER: David Burstyn (@DavidBurstyn) - Winston Capital Management LOAN AMOUNT: $13,200,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 2 year NOTE FROM LENDER: Winston was happy to work with this amazing development team on a A+ asset.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,200,000.00

Monthly NOI$88,000.00
Monthly Debt Service$83,432.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00