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Mixed Use

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Nw 29 Street And Nw 3rd Avenue

FINANCEDMixed-use

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:

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

Brad Williamson

Berkadia

Broker

$7.4B

vol

118 deals

Broker
MF1 Capital
MF1 CapitalLender
Related Group
Related GroupLandlord

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

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