Omega Real Estate Management Secures $103 Million Construction Take Out Loan In North Miami
FINANCED
$103,000,000
+ 1
Florida
See Similar DealsMultiFamily1 SF
Financed 09/12/2024
FINANCED
Omega Real Estate Management Secures $103 Million Construction Take Out Loan In North Miami
1155 Northeast 126th Street
See Similar DealsMultiFamily1 SF
Financed 09/12/2024
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$103,000,000
Total Square Footage:1 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$103,000,000.00
Monthly NOI$686,666.67
Monthly Debt Service$651,030.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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