State Farm Provides $21M Loan For 208-Unit Multifamily Property In Kendall, Miami

A multifamily property located at 13901 SW 122nd Avenue in Kendall, Miami, was recently involved in a closed transaction. The property consists of 208 units and is owned by RILEA Group. The deal was facilitated by brokers Charles Foschini, Christopher Apone, and Shannon Wilson from Berkadia.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Loan Provider: State Farm
• Loan Terms: 10-year, fixed-rate loan, with interest only
• Landlord: RILEA Group
• Brokers: Charles Foschini, Christopher Apone, and Shannon Wilson - Berkadia

The loan for the transaction was sourced from State Farm. The 10-year loan has a fixed interest rate and is interest-only. The involvement of Charles Foschini, Christopher Apone, and Shannon Wilson from Berkadia ensured successful completion of the deal.