Hotel in Miami
South River Drive, Miami, FL, USA
Property Type
Land
Length
24 months > Term
Appraised Value
$5,000,000 Appraised Value /
LTV
50%
About this Property
Looking to purchase these two parcels in Miami. They are basically land at the moment and I have interest from Starwood to put a hotel on part of the property.
Listing Details
- Term: 24 months
- Appraised Value: $5,000,000
- LTV: 50%
- Status: vacant
- Property Type: Land
- Purchase Price?: n/a
- Listing Type: Commercial
- ARV: n/a
- Pro Forma NOI: n/a
- Building Size: n/a
- Land Area: 2 Acres
- Occupancy: n/a
- Experience: 10+ Deals
- Number of Units: n/a
- Date Purchased: February 2020
Financials
- Loan Amount: $2,500,000.00
- Estimated Net Worth: $20,000,000
- Estimated Income: n/a
Client Information
- Has the client used private money in the past?: Yes
- Has the client had any banckruptcy in the last 5 years?: No
- Client Background
- The strategy is to sign a lease with Starwood to land lease part of the property to them. They will build the hotel and pay rent. The remaining land will be used to develop multifamily. After 24 months I will refinance with bank financing.
Details
Loan Purpose
- Purchase
Role
- Developer
Listed by shah
- Profile Status
- Verified
