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275 Fontainebleau Blvd, Mia...

Benefit Street Partners Provides $27.55M Loan For Multifamily Property On Fontainebleau Blvd In Hollywood
FINANCEDMultiFamily

Benefit Street Partners Provides $27.55M Loan For Multifamily Property On Fontainebleau Blvd In Hollywood

275 Fontainebleau Blvd, Miami, FL 33172, USA

$27,550,000

$1/SF

Building Size

27,550,000 SF

Asset Type

MultiFamily

Closing

Sep 13, 2020

AI

Benefit Street Partners has provided a loan of $27,550,000 for the acquisition of a multifamily property located at 275 Fontainebleau Blvd in Hollywood. The property consists of 133 units and is owned by Marlon Gomez. The deal was facilitated by brokers Aaron Kurlansky and Daniel Kaweblum.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $27,550,000
  • Address: 275 Fontainebleau Blvd
  • Market: Hollywood

Aaron Kurlansky and Daniel Kaweblum represented the buyer and seller in the transaction, respectively. The loan provided by Benefit Street Partners will enable the acquisition of this multifamily property, which features 133 units.

Players

Aaron Kurlansky

Sheridan Capital

Broker

$588.1M

vol

20 deals

Broker
Benefit Street Partners Realty
Benefit Street Partners RealtyLender
Marlon Gomez

Marlon Gomez

Landlord

$122.5M

vol

7 deals

Landlord

Miami 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

0.58%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93