Popular Bank Refinances $2.5M Multifamily Property In Miami With Propolis As Landlord
FINANCED
$2,502,500
Florida
See Similar DealsMultiFamily5,000 SF
Financed 04/28/2021
FINANCED
Popular Bank Refinances $2.5M Multifamily Property In Miami With Propolis As Landlord
121 Northwest 7th Avenue, Miami, FL, USA
See Similar DealsMultiFamily5,000 SF
Financed 04/28/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$500
Total Square Footage:5,000 SF
Transaction Type:Loan
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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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,502,500.00
Monthly NOI$16,683.33
Monthly Debt Service$15,817.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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