Freddie Mac Provides $247.5M Loan For Mixed-Use Property In Miami With Berkadia As Lender
FINANCED
$247,500,000
Florida
See Similar DealsMixed-use
Financed 12/14/2021
FINANCED
Freddie Mac Provides $247.5M Loan For Mixed-Use Property In Miami With Berkadia As Lender
55 NE 5th St, Miami, Florida 33132, United States
See Similar DealsMixed-use
Financed 12/14/2021
Summary
FLORIDA
Asset Type:Mixed-use
Transaction Type:Loan
The transaction involved a mixed-use property located at 55 NE 5th Street and 25 NE 5th Street in Miami. The property consists of 1,043 units.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $247,500,000
- Loan Lender: Freddie Mac
- Borrower Representative: Charles Foschini - berkadia''>Berkadia
- Landlord: Melo Group
- Broker: Peter Mekras - Aztec Group
The loan amount for this transaction was $247,500,000. The loan terms include a 10-year full-term interest-only debt financing, with a fixed rate of just over 3 percent.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$247,500,000.00
Monthly NOI$1,650,000.00
Monthly Debt Service$1,564,368.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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