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
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