Freddie Mac Provides $99M Loan For Melo Group's Multifamily Property In Miami
FINANCED
$99,000,000
Florida
See Similar DealsMultiFamily1,030 SF
Financed 04/29/2021
FINANCED
Freddie Mac Provides $99M Loan For Melo Group's Multifamily Property In Miami
1500 Northeast Miami Place, Miami, FL, USA
See Similar DealsMultiFamily1,030 SF
Financed 04/29/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$96,116
Total Square Footage:1,030 SF
Transaction Type:Loan
Located at 1500 Northeast Miami Place in Miami, this multifamily property has recently undergone a closed transaction. The deal was finalized on April 29, 2021, involving a loan from Freddie Mac.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $99,000,000
- Address: 1500 Northeast Miami Place
- Market: Miami
- Loan Terms: 10-year, interest-only loan
- Units: 425
The property is owned by the Melo Group, represented by Dr. Jose Luis Ferreira de Melo, Carlos Ferreira de Melo, and Martin Ferreira de Melo. The loan broker involved in this transaction is Peter Mekras from Aztec Group.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$99,000,000.00
Monthly NOI$660,000.00
Monthly Debt Service$625,747.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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