Miami Design District
A retail property in Miami, Florida. Securitized in 2 CMBS deals between 2020 and 2021.
$856.0MAppraised value (latest deal)
88.5%Occupancy
$37.0MUnderwritten NOI
4.3%Implied cap rate
- Address
- 151 NE 40th Street, Miami, FL 33137
- Property type
- Retail · Luxury Retail
- Year built
- 2014 – 2019
- Size
- 497,094 SF
- Sponsor
- Miami Design District Associates, LLC
- Loan purpose
- Refinance
- Largest tenant
- Holly Hunt
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2020-BNK30 | 2020-12-22 | $856.0M | 88.5% | $37.0M | 4.3% | $75.0M | 46.7% | 424B | |
| BANK 2021-BNK32 | 2021-03-24 | $856.0M | 88.5% | $37.0M | 4.3% | $90.0M | 46.7% | 424B |
Historical NOI reported in BANK 2021-BNK32
| Period ending | NOI |
|---|---|
| 12/31/2020 | $32.8M |
| 12/31/2019 | $33.8M |
| 12/31/2018 | $32.1M |
More CMBS properties in Florida →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.