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
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:
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Address: 16395 Biscayne Boulevard
- Market: Miami
- Units: 367
- Square Footage: 335,281
- Lender: An Ares ManagementReal Estate Fund
- Landlord: Robert Suris & Jeffrey Ardizon - The Estate Companies
- Brokers: Brian Gaswirth, Paul Adams, Chevalier McWilliams & Val McWilliams - JLL
- Loan Type: Refinance
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.
Players
Aventura 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93