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120 North Compass Way
FINANCED

NorthMarq Facilitates $88M Refinance For Avery Dania East Multifamily Property

120 North Compass Way

MultiFamily
clock iconFinanced 31 days ago
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Summary

Loan
FLORIDA
MultiFamily

The Avery Dania East apartments, located at 120 North Compass Way in Dania Beach, Florida, consist of 336 units. Northmarq’s Debt + Equity team facilitated an $88 million refinancing for the property, involving senior and mezzanine structures from Blackrock and Steeprock. This financing allowed The Meyers Group and Accesso Partners to pursue their business plan for the property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $88,000,000
  • Landlord: Stuart Meyers - The Meyers Group; Ariel Bentata - Accesso Partners
  • Broker: David Gahagan - NorthMarq
  • Loan Type: Refinance
  • Loan Terms: 3-year interest-only loan
  • Market: Dania Beach

The financing for the Avery Dania East apartments was arranged with the assistance of David Gahagan from NorthMarq, who played a crucial role in securing the $88 million refinancing. The sponsors, Stuart Meyers and Ariel Bentata, benefited from the involvement of Blackrock and Steeprock in providing the necessary senior and mezzanine structures for the refinancing deal.

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David (Dave) Gahagan's profile picture
David (Dave) Gahagan
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Managing Director

Details

Deal Summary
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FINANCED
IMAGE: David Gahagan, Ariel Bentata & Stuart Meyers DATE: 06/12/2024 ADDRESS: 120 North Compass Way MARKET: Dania Beach ASSET TYPE: Multifamily ~ UNITS: 336 LANDLORD: Stuart Meyers - The Meyers Group; Ariel Bentata - Accesso Partners BROKER: David Gahagan - NorthMarq (@Northmarq) LOAN AMOUNT: $88,000,000 LOAN TYPE: Refinance LOAN TERMS: 3-year interest-only loan NOTE: Northmarq’s Debt + Equity team facilitated an $88 million refinancing for Avery Dania East apartments in Dania Beach, Florida, featuring 336 units at 120 N Compass Way. The financing, arranged for The Meyers Group and Accesso Partners, included senior and mezzanine structures from Blackrock and Steeprock, enabling the sponsors to continue their business plan through stabilization.

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