Updated Dec 4, 2024
Omega Real Estate Management Secures $103 Million Construction Take Out Loan In North Miami
1155 Northeast 126th Street
$103,000,000
$103,000,000/SF
Building Size
1 SF
Asset Type
MultiFamily
Closing
Sep 12, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily development located at 1155 Northeast 126th Street in North Miami. This asset comprises 358 units and has secured a loan amounting to $103,000,000 for construction take-out purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $103,000,000
- Market: North Miami
- Lender: Affinius Capital & Corebridge
- Landlord: Omega Real Estate Management
- Brokers: Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez & Shannon Wilson - Berkadia
In this transaction, brokers Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez, and Shannon Wilson represented the landlord, Omega Real Estate Management. Their collaboration with Affinius Capital and Corebridge facilitated the loan agreement for the property.
On the Map
$103,000,000
$103,000,000/SF
MultiFamily
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Players
North Miami 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93