Popular Bank Refinances $2.5M Multifamily Property In Miami With Propolis As Landlord

121 Northwest 7th Avenue, Miami, FL, USA

$2,502,500

$500/SF

Building Size

5,000 SF

Asset Type

MultiFamily

Closing

Apr 27, 2021

AI

Propolis, represented by Misha Gurevich, completed a refinancing transaction for a multifamily property located at 121 NW 7th Ave in Miami. The loan, provided by Popular Bank and Orlando Oliva, amounted to $2,502,500. The deal was brokered by Eric Gleitman from Mercury Capital Markets.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $2,502,500
Lender: Popular Bank - Orlando Oliva (@_Orly_)
Landlord: Propolis - Misha Gurevich
Broker: Eric Gleitman - Mercury Capital Markets (@MercuryCapitalMarkets)

With the assistance of Eric Gleitman, Misha Gurevich secured a refinancing deal for the multifamily property at 121 NW 7th Ave in Miami. The loan was provided by Popular Bank, with Orlando Oliva representing the lender. The transaction, totaling $2,502,500, allowed Propolis to optimize their financial arrangements for the property.

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