Updated Dec 4, 2024
Arbor Realty Trust Provides $22.5M Refinance Loan For Homestead Multifamily Property
1427 Southeast 24th Road
$22,500,000
$77/SF
Building Size
290,450 SF
Asset Type
MultiFamily
Closing
May 6, 2024
About this deal
AI
The multifamily property located at 1427 Southeast 24th Road in Homestead spans across 290,450 square feet and comprises 157 units. The property was refinanced for $22,500,000 with the lender being Arbor Realty Trust. Bryten Real Estate Partners serves as the landlord, and the transaction was facilitated by Alex Pappas of Americavest.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Units: 157
- Square Footage: 290,450
- Address: 1427 Southeast 24th Road, Homestead
- Market: Homestead
- Lender: Arbor Realty Trust
- Landlord: Bryten Real Estate Partners
- Broker: Alex Pappas - Americavest
- Loan Type: Refinance
Alex Pappas, representing Americavest, played a crucial role as the broker in the refinancing deal. The involvement of Bryten Real Estate Partners as the landlord highlights the strategic decision-making behind the transaction, emphasizing the collaboration among key individuals and companies in the real estate market.
On the Map
$22,500,000
$77/SF
MultiFamily
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Players
Homestead MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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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