Cymbal DLT Secures $114 Million Refinance Loan For Multifamily Asset In Miami Gardens
FINANCED
$114,000,000
Florida
See Similar DealsMultiFamily400,000 SF
Financed 02/12/2025
FINANCED
Cymbal DLT Secures $114 Million Refinance Loan For Multifamily Asset In Miami Gardens
20775 Northwest 17th Avenue
See Similar DealsMultiFamily400,000 SF
Financed 02/12/2025
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$285
Total Square Footage:400,000 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property comprising 341 units with a total square footage of 400,000. It is located at 20775 Northwest 17th Avenue in the Miami Gardens market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $114,000,000
- Loan Type: Refinance
- Lender: Marc Jeffrey Rowan - Apollo Global Management; Scott Rechler - RXR Realty Investments
- Landlord: Asi Cymbal & Hector Delatorres - Cymbal DLT
Key individuals involved in this deal include Marc Jeffrey Rowan and Scott Rechler as lenders representing Apollo Global Management and RXR Realty Investments, respectively. The landlords for the property are Asi Cymbal and Hector Delatorres, representing Cymbal DLT in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$114,000,000.00
Monthly NOI$760,000.00
Monthly Debt Service$720,557.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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