Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah
FINANCED
$6,500,000
Florida
See Similar DealsMultiFamily31,066 SF
Financed 03/12/2024
FINANCED
Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah
1315 West 29th Street
See Similar DealsMultiFamily31,066 SF
Financed 03/12/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$209
Total Square Footage:31,066 SF
Transaction Type:Loan
The multifamily property located at 1315 West 29th Street in Hialeah spans 31,066 square feet and consists of 72 units. The property was refinanced for $6,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Market: Hialeah
- Lender: Bill Papagno - Lument
- Landlord: Frank Rodriguez - Coconut Grove Park
- Broker: Frank Rodriguez Melo - Cedano Realty Advisors
The loan for this transaction was facilitated by Bill Papagno from Lument. Frank Rodriguez, serving as the landlord of Coconut Grove Park, engaged Frank Rodriguez Melo from Cedano Realty Advisors as the broker for the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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