{"id":1875,"date":"2019-11-25T13:15:44","date_gmt":"2019-11-25T18:15:44","guid":{"rendered":"https:\/\/www.meyer.media\/?p=1875"},"modified":"2019-11-25T09:24:23","modified_gmt":"2019-11-25T14:24:23","slug":"%e2%80%8ccushman-wakefield-secures-26-15m-refinancing-for-1824-alton","status":"publish","type":"post","link":"https:\/\/www.meyer.media\/2019\/11\/25\/%e2%80%8ccushman-wakefield-secures-26-15m-refinancing-for-1824-alton\/","title":{"rendered":"\u200cCushman & Wakefield Secures $26.15M Refinancing for 1824 Alton"},"content":{"rendered":"
\"1824<\/a>
1824 Alton<\/figcaption><\/figure>\n

Jason Hochman and Michael Ciadella Assisted an Affiliate of Saber Real Estate Advisors, LLC in Securing the Loan for the Trophy Urban Retail Center in Miami Beach<\/em><\/strong><\/p>\n

MIAMI, FL, November 25, 2019<\/strong> \u2014 Jason Hochman<\/a> and Michael Ciadella<\/a> of Cushman & Wakefield\u2019s Equity, Debt & Structured Finance<\/a> team have secured a loan for the refinancing of 1824 Alton, a new Class A urban retail center in Miami Beach.<\/p>\n

Hochman and Ciadella originated a $26.15 million conduit loan with a 10-year term and a low, fixed interest rate from Starwood Mortgage Capital<\/a> on behalf of an affiliate of Saber Real Estate Advisors, LLC<\/a>.<\/p>\n

1824 Alton is a \u00b1109,961-square-foot retail center designed by Miami architect Kobi Karp<\/a>. The property was completed in late 2018 and comprises a five-story building with three levels of parking above \u00b131,841 square feet of Class A retail space. The center is situated on a \u00b10.55-acre site at the intersection of Alton Road and Dade Boulevard<\/a> just two blocks north of the Lincoln Road Mall<\/a>. This premier location benefits from the highest traffic counts in the area, with a combined average daily traffic count of 77,500 vehicles per day.<\/p>\n

1824 Alton is 94.3% occupied on long-term leases to Michaels, Citibank and Starbucks, and serves an integral role in each tenant’s strategic operations in Miami Beach.<\/p>\n

In 2015, South Florida Commercial Team members Miguel Alcivar<\/a>, Scott O’Donnell<\/a>, Dominic Montazemi<\/a>, Greg Miller<\/a> and Hochman facilitated the sale of the site to the current owner, who has since developed the new Miami Beach landmark.<\/p>\n

\u201c1824 Alton is a well-designed, prominent new building at the gateway to South Beach,\u201d said Hochman. \u201cOur team is proud to have been involved in the sale of the property a few years ago and now with the long-term financing, which our client can enjoy for the next 10 years. The property represented an excellent opportunity for lenders to finance a brand-new, generational asset with secure cash flows from entrenched, internationally recognized tenants.\u201d<\/p>\n

The South Florida Commercial Team of O\u2019Donnell, Montazemi, Alcivar, Miller, Ciadella and Hochman has closed over $1.5 billion in sales and financing over the last two years. Please visit www.southfloridacommercialteam.com<\/a> for more information about the team.<\/p>\n

About Cushman & Wakefield<\/strong><\/p>\n

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit\u00a0www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.<\/p>\n

About Saber Real Estate Advisors, LLC<\/strong><\/p>\n

Florida and New York-based Saber Real Estate Advisors, LLC is a fully integrated real estate development company specializing in land acquisition, financing and development of commercial, residential and mixed-use projects. Under the direction of Michael Klinger and Martin Berger, Saber has conceived, negotiated and implemented development plans representing nearly $2 billion in completed value. Saber is involved in a number of developments along the east coast including The River Club, a luxury apartment and retail complex in Bogota, NJ, and Hudson Heritage, a $300 million mixed-use intergenerational community on 156 acres in the Town of Poughkeepsie. Other completed Saber developments include The Corner in Tampa, FL and Livingston Circle in Livingston, NJ.<\/p>\n

Media Assets<\/strong><\/p>\n

1824 Alton Photo<\/a>
\nJason Hochman Headshot<\/a>
\nMichael Ciadella Headshot<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jason Hochman and Michael Ciadella of Cushman & Wakefield\u2019s Equity, Debt & Structured Finance team originated a $26.15 million conduit loan for the refinancing of 1824 Alton, a new Class A urban retail center in Miami Beach.<\/p>\n","protected":false},"author":1,"featured_media":1864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2629,49,2632,4,700,87,1427,29,144,120,2633,2634,265,642,2489,86,2630,75,2631,35,88,368,2635,756],"class_list":["post-1875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr","tag-1824-alton","tag-commercial-real-estate","tag-conduit-loan","tag-cushman-wakefield","tag-disposition","tag-dominic-montazemi","tag-edsf","tag-florida","tag-greg-miller","tag-jason-hochman","tag-kobi-karp","tag-lincoln-road-mall","tag-miami-beach","tag-miami-dade-county","tag-michael-ciadella","tag-miguel-alcivar","tag-refinancing","tag-retail","tag-saber-real-estate-advisors-llc","tag-sale","tag-scott-odonnell","tag-south-florida","tag-south-florida-commerical-team","tag-starwood-mortgage-capital"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.meyer.media\/wp-content\/uploads\/2019\/11\/1800-alton-road-scaled-scaled.jpg?fit=2560%2C1440&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p79IL5-uf","_links":{"self":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/comments?post=1875"}],"version-history":[{"count":1,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1875\/revisions"}],"predecessor-version":[{"id":1876,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1875\/revisions\/1876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media\/1864"}],"wp:attachment":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media?parent=1875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/categories?post=1875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/tags?post=1875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}