Trez Capital Provides $78.2M Construction Loan For Allapattah Multifamily Project

The multifamily property located at 1625 NW 20th Street in Allapattah has been involved in a recent closed transaction. The property features a total of 323 units and spans over 222,262 square feet.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $78,197,393
• Market: Allapattah
• Units: 323
• Square Footage: 222,262

The loan for this transaction was provided by Trez Capital, with Ben Jacobson representing the lending company. The loan amount totaled $78,197,393 and belonged to the construction loan category. The loan terms included a 36-month duration, with an option to extend for an additional 12 months. Throughout the loan term, the borrower was required to make interest-only payments.

Neology Life Development Group, represented by Lissette Calderon, served as the landlord in this transaction. The brokers involved in the deal were Charles Foschini and Chris Apone from Berkadia.