Neology Life Development Group Refinances Multifamily Property In Allapattah With $31.5M Loan From Fannie Mae
FINANCED
$31,456,000
Florida
See Similar DealsMultiFamily192 SF
Financed 09/29/2023
FINANCED
Neology Life Development Group Refinances Multifamily Property In Allapattah With $31.5M Loan From Fannie Mae
1569 Northwest 17th Avenue
See Similar DealsMultiFamily192 SF
Financed 09/29/2023
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$163,833
Total Square Footage:192 SF
Transaction Type:Loan
A multifamily property located at 1569 Northwest 17th Avenue in the Allapattah market has undergone a refinancing transaction. The property consists of 192 units and is owned by Neology Life Development Group. The loan, amounting to $31,456,000, was provided by Fannie Mae.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,456,000
- Units: 192
- Address: 1569 Northwest 17th Avenue
- Market: Allapattah
In this refinancing deal, the landlord's representatives involved were Charles Foschini, Christopher Apone, and Shannon Wilson from Berkadia.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,456,000.00
Monthly NOI$209,706.67
Monthly Debt Service$198,823.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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