Melo Group Secures $52.2M Refinance Loan For Multifamily Property In Miami
FINANCED
$52,200,000
Florida
See Similar DealsMultiFamily252,350 SF
Financed 08/03/2022
FINANCED
Melo Group Secures $52.2M Refinance Loan For Multifamily Property In Miami
250 Northeast 25th Street, Miami, Florida 33137, United States
See Similar DealsMultiFamily252,350 SF
Financed 08/03/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$206
Total Square Footage:252,350 SF
Transaction Type:Loan
The multifamily property located at 250 NE 25th St in Miami has recently undergone a refinancing transaction. The property consists of 214 units and spans 252,350 square feet. The loan amount for this refinancing deal is $52,249,000, facilitated by Freddie Mac. The landlord of the property is the Melo Group. The transaction was brokered by Peter Mekras of Aztec Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $52,249,000
- Address: 250 NE 25th St, Miami
- Market: Miami
- Asset Type: Multifamily
- Units: 214
- Square Footage: 252,350
The involvement of Peter Mekras from Aztec Group as the broker highlights the role of industry professionals in facilitating this refinancing deal for the multifamily property at 250 NE 25th St. This transaction showcases the expertise and relationships developed by Peter Mekras and Aztec Group in the Miami real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$52,200,000.00
Monthly NOI$348,000.00
Monthly Debt Service$329,939.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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