Neology Life Refinances Miami Multifamily Property With $54.5M Loan From Apollo Commercial
FINANCED
$54,500,000
Florida
See Similar DealsMultiFamily
Financed 05/09/2024
FINANCED
Neology Life Refinances Miami Multifamily Property With $54.5M Loan From Apollo Commercial
1951 Northwest South River Drive
See Similar DealsMultiFamily
Financed 05/09/2024
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 1951 Northwest South River Drive in Miami has undergone a refinancing process with a loan amount of $54,500,000 provided by Apollo Commercial Real Estate Finance, Inc. The property, owned by Neology Life, consists of 199 units.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $54,500,000
- Market: Miami
- Lender: Apollo Commercial Real Estate Finance, Inc.
- Landlord: Neology Life
- Brokers: Christopher Apone, Charles Foschini & Shannon Wilson - Berkadia
- Address: 1951 Northwest South River Drive
- Asset Type: Multifamily
- Units: 199
The deal was facilitated by Christopher Apone, Charles Foschini, and Shannon Wilson of Berkadia, representing the parties involved in the refinancing transaction at the multifamily property in Miami.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$54,500,000.00
Monthly NOI$363,333.33
Monthly Debt Service$344,477.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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