Mike Peisach And Leon Peisach Of Category Five Real Estate Secure $17.5M Loan For Lakeshore Apartments

The property asset involved in this transaction is listed as Lakeshore Apartments, located at 1260 Northwest 95th Street in Miami. This multifamily garden-style asset consists of 180 units and encompasses a total area of 137,340 square feet, with the acquisition loan amounting to $17,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,500,000
• Asset Size: 180 units
• Square Footage: 137,340 SF
• Market Location: Miami
• Landlord: Mike Peisach & Leon Peisach - Category Five Real Estate
• Landlord's Representatives: Jonathan Aghravi & Evan Srebrenik - JBA Equities
• Loan Type: Acquisition
• Interest Rate: 6.3%
• Loan Term: Five years
• Interest-Only Period: Significant
• Future Funding: $3.5 million available within the year upon stabilization

Key individuals involved in the deal include the landlords, Mike Peisach and Leon Peisach from Category Five Real Estate, who are looking to reposition and stabilize the asset. The financing was arranged by Jonathan Aghravi and Evan Srebrenik from JBA Equities, who structured the deal to allow a quick closing on this transitional asset.