Curated Real Estate Capital Secures $8M Construction Loan For Downtown Miami Multifamily Property
1165 Northwest 8th Avenue
$8,000,000
$400/SF
Building Size
20,000 SF
Asset Type
MultiFamily
Closing
Sep 29, 2023
AI
The property involved in this transaction is a multifamily asset located at 1165 NW 8th Ave in Downtown Miami. It spans approximately 20,000 square feet and consists of 42 units. The property was represented by Curated Real Estate Capital brokers Cameron Huard and Luca Zaharias.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Market: Downtown Miami
- Square Footage: 20,000
- Units: 42
This construction loan transaction, with an amount of $8,000,000, is a significant investment in the development of the multifamily property. The loan terms include a Loan-to-Cost (LTC) ratio of 80+.
Players
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93