Multiplan Real Estate Asset Management Secures $58.5M Loan For 70-Unit Multifamily Property In Miami Beach With Bank OZK
5775 Collins Ave #57 Ocean, Miami Beach, Fl 33140, Usa
$58,500,000
$16,991/SF
Building Size
3,443 SF
Asset Type
MultiFamily
Closing
May 4, 2020
AI
The multifamily property located at 5775 Collins Avenue in Miami Beach has been closed in a transaction. The property consists of 70 units and the loan amount for the deal was $58,500,000. The lender involved in this transaction was Bank OZK. The landlord of the property is Multiplan Real Estate Asset Management, represented by José Isaac Peres and Marcelo Kingston.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,500,000
- Address: 5775 Collins Avenue, Miami Beach
- Market: Miami Beach
- Units: 70
The brokers representing the deal were Manny de Zárraga and Jesse Wright from JLL.
Players
Miami Beach 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93