Updated Oct 29, 2024
TA Builders Secures $18M Construction Loan For Multifamily Project In Coral Gables
701 711 Valencia Avenue
$18,000,000
$1,064/SF
Building Size
16,903 SF
Asset Type
MultiFamily
Closing
Mar 27, 2023
About this deal
AI
The property involved in this transaction is a multifamily property located at 701-711 Valencia Avenue in Coral Gables. The property spans a total of 16,903 square feet. The transaction took place on 03/27/2023.
Summary of transaction details
- Property Type: Multifamily ~ SF
- Transaction Amount: $18,000,000
- Address: 701-711 Valencia Avenue
- Market: Coral Gables
The lender in this transaction is Banesco USA. The landlord is TA Builders, represented by Luis Arevalo, David Torres, Ivan Gomez, Andres Fonte, Javier Flores, Francisco Flores, and Rafael Torres. The loan obtained for this transaction is a construction loan.
Players
Paterna MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93