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Corinthian Capital & Triangle Capital Acquire North Miami Beach Multifamily For $67M Loan

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FINANCED
$67,000,000
Danny Matz
Dustin Stolly
Daniel Fromm
+ 1

Florida

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MultiFamily350,000 SF
Financed 03/10/2022
the dealplayerscompscontact
Property Image
FINANCED

Corinthian Capital & Triangle Capital Acquire North Miami Beach Multifamily For $67M Loan

2375 Northeast 173rd Street, North Miami Beach, Florida 33162, United States

See Similar Deals
MultiFamily350,000 SF
Financed 03/10/2022
Danny Matz
Dustin Stolly
Daniel Fromm
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$191
Total Square Footage:350,000 SF
Transaction Type:Loan

A multifamily property located at 2375 NE 173rd Street, 7550 Stirling Road, and 2940 Forest Hills Blvd in North Miami Beach has recently been involved in a closed transaction. The property includes a total of 371 units and spans approximately 350,000 square feet.

Summary of transaction details

The loan for the acquisition of this multifamily property was provided by Ladder Capital. The landlord involved in the transaction includes Corinthian Capital and Triangle Capital. The brokers who represented the deal were Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Daniel Matz from Newmark.

Players

Dustin Stolly
Walker & Dunlop
Dustin Stolly
264 deals$49.1B volume
BROKER
Daniel Fromm
Newmark
Daniel Fromm
82 deals$5.3B volume
BROKER
Danny Matz
Newmark
Danny Matz
28 deals$3.3B volume
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$96.2B volume
BROKER
Ladder Capital
Ladder Capital
LENDER
CC
Corinthian Capital
LANDLORD

Details

FINANCED
IMAGE: Daniel Matz, Jordan Roeschlaub, Dustin Stolly & Daniel Fromm DATE: 03/10/2022 ADDRESS: 2375 NE 173rd Street, 7550 Stirling Road, 2940 Forest Hills Blvd MARKET: North Miami Beach ASSET TYPE: Multifamily ~ UNITS: 371 ~ SF: 350,000 LENDER: Ladder Capital LANDLORD: Corinthian Capital & Triangle Capital BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub), Daniel Fromm (@Ddwb) & Daniel Matz - Newmark LOAN AMOUNT: $67,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,000,000.00

Monthly NOI$446,666.67
Monthly Debt Service$423,485.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00