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2200 NW 1st Ave Miami, FL 3...

Fisher Brothers Secures $117.5M Construction Loan For Wynwood Multifamily Property
FINANCEDMultiFamily

Fisher Brothers Secures $117.5M Construction Loan For Wynwood Multifamily Property

2200 NW 1st Ave Miami, FL 33127, USA

$177,500,000

$739/SF

Building Size

240,000 SF

Asset Type

MultiFamily

Closing

Jun 29, 2023

AI

Located at 2200 NW First Avenue in Wynwood, this multi-family property consists of 308 units and spans across 240,000 square feet. The transaction involved a loan for the construction of the property.

Summary of Transaction Details

The key individuals and companies involved in this transaction include Aaron Casden from JP Morgan, Jacob Feingold from Canyon Partners, and Winston Fisher from Fisher Brothers. The deal was facilitated by brokers Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Michael Ianno, and Michael Diaz from Walker & Dunlop.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
J.P. Morgan Chase
J.P. Morgan ChaseLender
Winston Fisher

Winston Fisher

Fisher Brothers

Landlord

$1.6B

vol

18 deals

Landlord

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93