LendVent Realty Capital Provides $1.7M Bridge Loan For Miami Multifamily Property
FINANCED
$1,700,000
Florida
See Similar DealsMultiFamily15,757 SF
Financed 02/15/2023
FINANCED
LendVent Realty Capital Provides $1.7M Bridge Loan For Miami Multifamily Property
1281 Nw 61 St
See Similar DealsMultiFamily15,757 SF
Financed 02/15/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$107
Total Square Footage:15,757 SF
Transaction Type:Loan
A bridge loan of $1,700,000 was secured for the acquisition of a multifamily property located at 1281 NW 61st Street in Miami. The property consists of 33 units with a total square footage of 15,757. The loan was provided by LendVent Realty Capital and the borrower's representative in the deal is John Femenia.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $1,700,000
- Units: 33
- Square Footage: 15,757
- Market: Miami
The landlord of the property is Y Apartments, represented by Joseph Cohen. The bridge loan has a term of 12 months. The deal was finalized on 02/15/2023.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,700,000.00
Monthly NOI$11,333.33
Monthly Debt Service$10,745.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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