Silver Sands Premium Outlets
A retail property in Miramar Beach, Florida. Securitized in 1 CMBS deal in 2022.
$276.0MAppraised value (latest deal)
88.5%Occupancy
$19.3MUnderwritten NOI
7.0%Implied cap rate
- Address
- 10562 and 10746 Emerald Coast Parkway, Miramar Beach, FL 32550
- Property type
- Retail · Outlet Center
- Year built
- 1986, 1995, 1999, 2000 a
- Size
- 435,156 SF
- Sponsor
- Simon Property Group, L.P. and The Howard Group
- Loan purpose
- Refinance
- Largest tenant
- Saks Fifth Avenue Off 5th
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2022-BNK41 | 2022-05-05 | $276.0M | 88.5% | $19.3M | 7.0% | $19.0M | 50.7% | 3.27x | 424B |
Historical NOI reported in BANK 2022-BNK41
| Period ending | NOI |
|---|---|
| 11/30/2021 | $18.6M |
| 12/31/2020 | $17.1M |
| 12/31/2019 | $18.8M |
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%.