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Rockpoint Secures $59 Million Acquisition Loan From Fannie Mae For 257-Unit Multifamily Property In Wynwood

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FINANCED
$59,000,000
Abigail Beauchamp
Jared Hill
Mitch Sinberg
+ 2

Florida

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MultiFamily1 SF
Financed 08/14/2024
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Property Image
FINANCED

Rockpoint Secures $59 Million Acquisition Loan From Fannie Mae For 257-Unit Multifamily Property In Wynwood

21 Northeast 22nd Street

See Similar Deals
MultiFamily1 SF
Financed 08/14/2024
Abigail Beauchamp
Jared Hill
Mitch Sinberg
+ 2
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$59,000,000
Total Square Footage:1 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 21 Northeast 22nd Street in Wynwood, featuring a total of 257 units. The acquisition loan amount for the property is $59,000,000, facilitated by Fannie Mae as the lender.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $59,000,000
  • Address: 21 Northeast 22nd Street
  • Market: Wynwood
  • Lender: Fannie Mae
  • Landlord: Rockpoint
  • Units: 257
  • Loan Type: Acquisition

The transaction was represented by brokers Mitch Sinberg, Scott Wadler, Matt Robbins, Abigail Beauchamp, Jared Hill, and Brad Williamson from Berkadia, reflecting a collaborative effort in securing the deal.

Players

Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Jared Hill
Berkadia
Jared Hill
5 deals$242.3M volume
BROKER
Abigail Beauchamp
Berkadia
Abigail Beauchamp
15 deals$589.5M volume
BROKER
Fannie Mae
Fannie Mae
LENDER

Details

FINANCED
IMAGE: Matt Robbins, Jared Hill, Mitch Sinberg, Abigail Beauchamp, Scott Wadler & Brad Williamson DATE: 08/14/2024 ADDRESS: 21 Northeast 22nd Street MARKET: Wynwood ASSET TYPE: Multifamily ~ UNITS: 257 LENDER: Fannie Mae (@OfficialFannieMae) LANDLORD: Rockpoint BROKERS: Mitch Sinberg (@TheJewishIceberg), Scott Wadler (@SWadler1), Matt Robbins, Abigail Beauchamp, Jared Hill & Brad Williamson - Berkadia (@Berkadia) LOAN AMOUNT: $59,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$59,000,000.00

Monthly NOI$393,333.33
Monthly Debt Service$372,920.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00