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Maor Benami Acquires Fort Lauderdale Multifamily Properties In $9.9M Bridge Loan

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FINANCED
$9,900,000
Inbal Ruiz
Maor Benami

Florida

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MultiFamily80,000 SF
Financed 05/20/2021
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FINANCED

Maor Benami Acquires Fort Lauderdale Multifamily Properties In $9.9M Bridge Loan

2649 Middle River Dr, Fort Lauderdale, FL, USA

See Similar Deals
MultiFamily80,000 SF
Financed 05/20/2021
Inbal Ruiz
Maor Benami
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$123
Total Square Footage:80,000 SF
Transaction Type:Loan

The multifamily property located at 2649 Middle River Dr., 1100 NE 12th Ave., 1227 NE 11th Ave., 901 NE 16th Ave., 737 NE 7th Avenue, 1150 NE 17th Ct., 1151 NE 17th Ct., 1401 NE 17th Ct., 2200 NE 9th avenue, 909 NE 22nd Dr., 917-921 NE 22nd Dr., & 4655 Bougainvilla Dr. in Fort Lauderdale, Wilton Manors, and Lauderdale-By-The-Sea has been involved in a bridge loan transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,900,000
  • Loan Type: Bridge
  • Lender: Sheridan Capital
  • Buyer: Maor Benami
  • Broker: Joe Back

Maor Benami has secured a bridge loan from Sheridan Capital for the acquisition of the aforementioned multifamily properties. Joe Back, representing Maor Benami, facilitated the transaction as the broker.

Players

Inbal Ruiz
Inbal Ruiz
5 deals$56.1M volume(786) 991-6116
BROKER
Maor Benami
Maor Benami
5 deals$75.5M volume
BUYER
Sheridan Capital
Sheridan Capital
LENDER

Details

FINANCED
IMAGE: 05/20/2021 ADDRESS: 2649 Middle River Dr., 1100 NE 12th Ave., 1227 NE 11th Ave., 901 NE 16th Ave., 737 NE 7th Avenue, 1150 NE 17th Ct., 1151 NE 17th Ct., 1401 NE 17th Ct., 2200 NE 9th avenue, 909 NE 22nd Dr., 917-921 NE 22nd Dr., & 4655 Bougainvilla Dr. MARKET: Fort Lauderdale, Wilton Manors, Lauderdale-By-The-Sea ASSET TYPE: Multifamily LOAN TYPE: Bridge LENDER: Sheridan Capital BUYER: Maor Benami BROKER: Joe Back LOAN AMOUNT: $9,900,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,900,000.00

Monthly NOI$66,000.00
Monthly Debt Service$62,574.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00