Updated Oct 28, 2024
ROVR Development Secures $95M Loan From PNC Bank For Downtown Miami Multifamily Property
240 North Miami Avenue, Miami, Florida 33128, United States
$95,000,000
Units
300
Asset Type
MultiFamily
Closing
Jul 14, 2022
About this deal
AI
Oscar Rodriguez has secured a loan for a multifamily property in Downtown Miami. The property, located at 240 North Miami Avenue, consists of 300 units. The loan, provided by PNC Bank, amounts to $95,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $95,000,000
- Address: 240 North Miami Avenue
- Market: Downtown Miami
- Units: 300
- Lender: PNC Bank
- Landlord: ROVR Development - Oscar Rodriguez
Oscar Rodriguez, representing ROVR Development, successfully secured the loan from PNC Bank for the acquisition of the multifamily property in Downtown Miami. This transaction marks a significant investment opportunity in the thriving market of Downtown Miami.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Oscar Rodriguez to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93