Updated Oct 28, 2024
Corinthian Capital & Triangle Capital Acquire North Miami Beach Multifamily For $67M Loan
2375 Northeast 173rd Street, North Miami Beach, Florida 33162, United States
$67,000,000
$191/SF
Building Size
350,000 SF
Asset Type
MultiFamily
Closing
Mar 9, 2022
About this deal
AI
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
- Property Type: Multifamily
- Transaction Amount: $67,000,000
- Lender: Ladder Capital
- Landlord: Corinthian Capital & Triangle Capital
- Brokers: Dustin Stolly, Jordan Roeschlaub, Daniel Fromm & Daniel Matz - Newmark
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.
On the Map
$67,000,000
$191/SF
MultiFamily
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Players
North Miami Beach 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93