facebook
Traded Co logo
Submit

Metro Fund Inc. Closes $5.25M Refinance Loan In Sunny Isles Beach Condo

Property Image
FINANCED
$5,250,000

Florida

See Similar Deals
Condo
Financed 02/09/2024
the dealplayerscompscontact
Property Image
FINANCED

Metro Fund Inc. Closes $5.25M Refinance Loan In Sunny Isles Beach Condo

18555 Collins Avenue

See Similar Deals
Condo
Financed 02/09/2024
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Condo
Transaction Type:Loan

The property at 18555 Collins Avenue, located in Sunny Isles Beach, is a condo in the Porsche Building. The loan transaction involved a refinance for a loan amount of $5,250,000 with a 50% Loan-to-Value (LTV) ratio on a 3/1 Adjustable Rate Mortgage (ARM) at a 7.5% interest rate.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $5,250,000
  • Market: Sunny Isles Beach
  • Lender: Orlando A. Diaz - Metro Fund Inc.
  • Loan Type: Refinance
  • Loan Terms: 50% LTV on a 3/1 ARM at 7.5% Rate

Metro Fund Inc., led by Orlando A. Diaz, facilitated the cash out refinance for a foreign national in the Porsche Building. The favorable terms of the deal included a 7.5% interest rate on a 3/1 ARM. For more information, interested parties can contact Orlando A. Diaz at [email protected] or visit the Metro Fund Group website at www.metrofundgroup.com.

Players

Orlando Diaz
Metro Fund
Orlando Diaz
4 deals$19.6M volume
BROKER
Metro Fund
Metro Fund
LENDER

Details

FINANCED
IMAGE: Orlando A. Diaz DATE: 02/09/2024 ADDRESS: 18555 Collins Avenue MARKET: Sunny Isles Beach ASSET TYPE: Condo LENDER: Orlando A. Diaz (@ODiaz314) - Metro Fund Inc. LOAN AMOUNT: $5,250,000 LOAN TYPE: Refinance LOAN TERMS: 50% LTV on a 3/1 ARM at 7.5% Rate NOTE FROM LENDER: Metro Fund closed on a cash out refinance in the Porsche Building for a foreign national with favorable terms at 7.5% on a 3/1 ARM. Reach out to us at [email protected] or check out our website at www.metrofundgroup.com

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,250,000.00

Monthly NOI$35,000.00
Monthly Debt Service$33,183.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00