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

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.