FINANCEDMixed-use
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
$247,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 14, 2021
AI
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.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93