Regions Bank Provides $45.2M Refinance Loan For 138-Unit Multifamily In Opa Locka
14301 NW 17th Ave Opa-locka, FL 33054, USA
$45,200,000
$234/SF
Building Size
193,000 SF
Asset Type
MultiFamily
Closing
Apr 5, 2023
AI
The multifamily property located at 14301 Northwest 17th Avenue in Opa Locka has been involved in a recent loan transaction. The property, spanning 193,000 square feet and consisting of 138 units, was the subject of a refinancing deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,200,000
- Lender: Regions Bank
- Landlord: Redwood Dev Co - David Burstyn & Brian Sidman
- Loan Type: Refinance
- Loan Terms: Fannie 10 Year
The loan amount for the refinancing deal was $45,200,000, provided by Regions Bank. Redwood Dev Co, represented by David Burstyn and Brian Sidman, acted as the landlord in this transaction.
Players
Miami 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93