Neology Life Development Group Refinances Multifamily Property In Miami River District For $52M

1951 Northwest South River Drive, Miami, FL, USA

$52,000,000

$48,826/SF

Building Size

1,065 SF

Asset Type

MultiFamily

Closing

Jul 19, 2021

AI

A multifamily property located at 1951 NW S River Drive in the Miami River District has been involved in a recent loan transaction. The loan was facilitated by LoanCore Capital and the borrower, Neology Life Development Group represented by Lissette Calderon. The loan amount for this 2-year, floating-rate refinance loan is $52,000,000 with an LTV of 72%. The loan also includes three 12-month extension options.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $52,000,000
Address: 1951 NW S River Drive
Market: Miami River District
Lender: LoanCore Capital
Landlord: Neology Life Development Group - Lissette Calderon
Brokers: Charles Foschini & Christopher Apone - Berkadia

Charles Foschini & Christopher Apone from Berkadia served as the brokers for this transaction, representing the borrower, Neology Life Development Group, and Lissette Calderon. This loan provides an opportunity for refinancing the property and optimizing its financial structure.

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