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Mike Wadler & Adrian Rahimi Of Bank Hapoalim Provide $73.27M Loan For North Miami Beach Multifamily

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FINANCED
$70,000,000
Michael (Thomas) Basinski
Mitch Sinberg
+ 2

Florida

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MultiFamily
Financed 07/01/2025
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FINANCED

Mike Wadler & Adrian Rahimi Of Bank Hapoalim Provide $73.27M Loan For North Miami Beach Multifamily

13899 Biscayne Boulevard

See Similar Deals
MultiFamily
Financed 07/01/2025
Michael (Thomas) Basinski
Mitch Sinberg
+ 2
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 13899 Biscayne Boulevard in North Miami Beach, comprising a total of 254 units. The amount of the construction loan secured for this development is $73,270,000.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $73,270,000
  • Loan Type: Construction
  • Lender: Mike Wadler & Adrian Rahimi - Bank Hapoalim (BHI)
  • Developer: Eduardo Imery & Edgardo Defortuna - Fortune International Group & Blue Road
  • Brokers: Scott Wadler, Bobby Dockerty, Michael Basinski & Mitch Sinberg - Berkadia
  • Units: 254

The key individuals involved in the transaction include the developers Eduardo Imery and Edgardo Defortuna, representing Fortune International Group and Blue Road respectively. The brokerage team from Berkadia consists of Scott Wadler, Bobby Dockerty, Michael Basinski, and Mitch Sinberg, playing a crucial role in facilitating this deal.

Players

Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER

Scott Wadler
Berkadia
160 deals$9.8B volume
BROKER

Michael (Thomas) Basinski
Berkadia
40 deals$3.7B volume
BROKER

Bobby (Bob) Dockerty
Berkadia
3 deals$118.5M volume(215) 328-3200
BROKER

Berkadia
BROKERAGE

Edgardo Defortuna
14 deals$1.5B volume
LENDER






Details

FINANCED
IMAGE: Eduardo Imery, Mike Wadler, Edgardo Defortuna, Michael Basinski , Scott Wadler, Bobby Dockerty, Mitch Sinberg & Adrian Rahimi DATE: 07/08/2025 ADDRESS: 13899 Biscayne Boulevard MARKET: North Miami Beach ASSET TYPE: Multifamily ~ UNITS: 254 LENDER: Mike Wadler & Adrian Rahimi - Bank Hapoalim (BHI) (@PoalimBank) DEVELOPER: Eduardo Imery & Edgardo Defortuna - Fortune International Group & Blue Road BROKERS: Scott Wadler (@SWadler1), Bobby Dockerty (@BobDoclxix), Michael Basinski (@MichaelThomasBasinski) & Mitch Sinberg - Berkadia (@Berkadia) LOAN AMOUNT: $73,270,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,000,000.00

Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00