Updated Dec 4, 2024
FinanceMiami Arranges $12.1M Refinance Loan For MultiFamily Portfolio In Miami Beach
$8,000,000
$350/SF
Building Size
22,844 SF
Asset Type
MultiFamily
Closing
Mar 7, 2023
About this deal
AI
A multi-family portfolio in Miami Beach has recently undergone a refinancing deal. The portfolio consists of 46 units, totaling approximately 34,958 square feet. The transaction took place on March 31, 2023, involving a loan amount of $12,100,000. The property is located in the competitive Miami Beach market.
Summary of transaction details
- Property Type: MultiFamily Portfolio
- Transaction Amount: $12,100,000
- Units: 46
- Square Footage: 34,958 SF
- Market: Miami Beach
The brokerage firm FinanceMiami, represented by Roberto J Perea & Doug Landry, facilitated the refinancing process for the multi-family portfolio. They played a crucial role in securing the loan and ensuring a smooth transaction for all parties involved.
Players
Market 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93