MF1 Capital Provides $165M Refinance Loan For Mixed-Use Property In Miami
Nw 29 Street And Nw 3rd Avenue
$165,000,000
$1,829/SF
Building Size
90,169 SF
Asset Type
Mixed-use
Closing
Apr 11, 2023
AI
The property asset involved in this transaction is a mixed-use development located at 286 NW 29th St in the Miami market. The asset spans a square footage of 90,169 and the transaction includes a loan amount of $165,000,000 in refinancing.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $165,000,000
- Lender: MF1 Capital
- Landlord: Related Group, LNDMRK & Tricera Capital
- Brokers: Scott Wadler, Mitch Sinberg, Matthew (Matt) Robbins & Brad Williamson - Berkadia
Key individuals involved in the transaction include Scott Wadler, Mitch Sinberg, Matthew Robbins, and Brad Williamson, who represent the brokerage firm Berkadia. The lenders and landlords are noted as MF1 Capital and Related Group, LNDMRK & Tricera Capital, respectively.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93