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1415 NW 15th Ave Miami, FL ...

Melo Group Refinances Miami Multifamily With $22.3M Freddie Mac Loan
FINANCEDMultiFamily

Melo Group Refinances Miami Multifamily With $22.3M Freddie Mac Loan

1415 NW 15th Ave Miami, FL 33125, USA

$22,345,000

$197/SF

Building Size

113,245 SF

Asset Type

MultiFamily

Closing

Jun 26, 2023

AI

The multifamily property located at 1415 Northwest 15th Avenue in Miami has recently undergone a refinancing transaction. With a total of 156 units and a size of 113,245 square feet, this property is a significant asset in the market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,345,000
  • Address: 1415 Northwest 15th Avenue
  • Market: Miami

In this refinancing deal, the lender involved is Freddie Mac. The landlord of the property is the Melo Group. Aztec Group represented the transaction as the broker, with Peter Mekras acting as their representative.

Players

Peter Mekras

Aztec Group

Broker

$1B

vol

18 deals

Broker
Freddie Mac
Freddie MacLender
Melo Group
Melo GroupLandlord

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93