Michael Sprotzer & Jay Bailyn Acquire Multifamily Property In Homestead With $25.32M Loan From Argentic

The multifamily property located at 1427 SE 24th Place in Homestead was recently acquired through a loan transaction. The loan, facilitated by Argentic, amounted to $25,320,000. The transaction took place on April 22, 2021.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $25,320,000
• Address: 1427 SE 24th Place, Homestead
• Market: Homestead
• Loan Type: Acquisition

The property was acquired by Michael Sprotzer and Jay Bailyn, who acted as the landlords in the transaction. Representing the buyers were Fernando Riboli and Matt Williams from the agency. Their role as brokers ensured a smooth acquisition process.

With this loan transaction, the buyers were able to secure the multifamily property, located at 1427 SE 24th Place in Homestead. The deal was facilitated by Argentic, who provided the necessary financing. The acquisition was spearheaded by Michael Sprotzer and Jay Bailyn, the landlords of the property. Fernando Riboli and Matt Williams represented the buyers as their brokers, ensuring a successful transaction.