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Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah

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FINANCED
$6,500,000

Florida

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MultiFamily31,066 SF
Financed 03/12/2024
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FINANCED

Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah

1315 West 29th Street

See Similar Deals
MultiFamily31,066 SF
Financed 03/12/2024
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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:

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.

Players

Frank Rodriguez Melo
7 deals$70.6M volume
BROKER

Lument
LENDER

Details

FINANCED
IMAGE: Frank Rodriguez Melo DATE: 03/12/2024 ADDRESS: 1315 West 29th Street MARKET: Hialeah ASSET TYPE: Multifamily ~ UNITS: 72 ~ SF: 31,066 LENDER: Bill Papagno - Lument (@LumentCRE) LANDLORD: Frank Rodriguez - Coconut Grove Park BROKER: Frank Rodriguez Melo (@Cybmelo) - Cedano Realty Advisors (@Cedano_Realty_Advisors) LOAN AMOUNT: $6,500,000 LOAN TYPE: Refinance

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Deal Type
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