Updated Oct 29, 2024
Trammell Crow Residential Secures $72.1M Construction Loan For Miami Multifamily
2850 Southwest 71st Avenue, Miami, Florida 33155, United States
$72,100,000
Units
324
Asset Type
MultiFamily
Closing
May 1, 2023
About this deal
AI
The multifamily property located at 2850 SW 71st Ave & 2811 SW 70th Avenue in Miami has been involved in a recent closed transaction. This property spans over 8.68 acres and consists of 324 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $72,100,000
- Loan Type: Construction Loan
The lender for this transaction was Comerica Bank. Trammell Crow Residential, represented by Kenneth Vallach, acted as the landlord in this deal.
Note: No additional information is available about this transaction.
Players
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93