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16395 Biscayne Boulevard

Updated Dec 12, 2024

Robert Suris & Jeffrey Ardizon's Estate Companies Secure $110M Refinance Loan For Miami Multifamily
FINANCEDMultiFamily

Robert Suris & Jeffrey Ardizon's Estate Companies Secure $110M Refinance Loan For Miami Multifamily

16395 Biscayne Boulevard

$110,000,000

$328/SF

Building Size

335,281 SF

Asset Type

MultiFamily

Closing

Nov 8, 2024

About this deal

AI

The property at 16395 Biscayne Boulevard in Miami is a multifamily asset consisting of 367 units, spanning a total square footage of 335,281. The transaction involved a loan amount of $110,000,000 for the purpose of refinancing.

Summary of transaction details:

The transaction involved key individuals such as Robert Suris and Jeffrey Ardizon, who represent the landlord, The Estate Companies. The brokerage team from JLL, consisting of Brian Gaswirth, Paul Adams, Chevalier McWilliams, and Val McWilliams, facilitated the deal.

On the Map

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$110,000,000

$328/SF

MultiFamily

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Players

Brian Gaswirth

JLL

Broker

$6.5B

vol

51 deals

Broker
Ares Management
Ares Management Lender
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Aventura MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $328 per square foot on a published $110M for 335,281 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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