Updated Feb 16, 2024
FBRE Capital's Client Acquires 500-Unit Miami Multifamily Property For $78M With $52M Loan
Miami, FL, USA
$52,000,000
Units
500
Asset Type
Industrial
Closing
Dec 23, 2020
About this deal
AI
FBRE Capital’s client acquired a 500-unit multifamily property in Miami for $78 million. The deal was facilitated by brokers Solomon Birnbaum and Thomas Fuchsman of FBRE Capital. The transaction involved a 1.65% loan, which was successfully closed within 30 days of a signed Purchase and Sale Agreement (PSA).
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $78 million
- Market: Miami
- Asset Type: Multifamily
- Brokers: Solomon Birnbaum & Thomas Fuchsman - FBRE Capital
- Loan Amount: $52 million
- Number of Units: 500
FBRE Capital is a boutique commercial real estate advisory firm that offers its services to domestic and foreign investors and developers. For any financing solutions or general advisory inquiries, interested parties can reach out to Solomon at FbreCapital.com.
On the Map
$52,000,000
Industrial
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Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93