Arbor Realty Trust Provides $22.5M Refinance Loan For Homestead Multifamily Property
FINANCED
$22,500,000
Florida
See Similar DealsMultiFamily290,450 SF
Financed 05/06/2024
FINANCED
Arbor Realty Trust Provides $22.5M Refinance Loan For Homestead Multifamily Property
1427 Southeast 24th Road
See Similar DealsMultiFamily290,450 SF
Financed 05/06/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$77
Total Square Footage:290,450 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,500,000.00
Monthly NOI$150,000.00
Monthly Debt Service$142,215.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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