Madison International Realty Secures $50.4M Freddie Mac Loan For Lincoln Pointe Apartments
FINANCED
$50,400,000
Florida
See Similar DealsMultiFamily
FINANCED
Madison International Realty Secures $50.4M Freddie Mac Loan For Lincoln Pointe Apartments
17900 Northeast 31st Court
See Similar DealsMultiFamily
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The Lincoln Pointe Apartments in Aventura, located at 17900 NE 31st Court in North Miami Beach, received a $50.4 million Freddie Mac refinancing loan. The property consists of 285 units spread across four three-story buildings, offering one- and two-bedroom floor plans with an average size of 904 square feet. The amenities include a clubhouse, fitness center, business center, and a pool.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $50,400,000.00
- Borrower: Madison International Realty
- Lender: JLL Real Estate Capital, LLC
- Borrower's Representative: Steven (Steve) Klein (JLL)
Elliott Throne and Steven Klein of JLL facilitated the loan on behalf of the borrower, which is a partnership between New York City-based firms LCOR and Madison International Realty.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,400,000.00
Monthly NOI$336,000.00
Monthly Debt Service$318,562.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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