Opa-locka Community Development Corp Secures $25M Bridge Loan For Multifamily Property In Opa Locka, FL

Willie Logan's Instagram post from November 3, 2022, featured the multifamily property located at 2888 NW 132nd St in Opa Locka, FL. This property consists of 216 units and was involved in a closed transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $25,000,000
• Lender: M&T Realty Capital Corporation
• Landlord: Opa-locka Community Development Corporation - Willie Logan
• Loan Type: Bridge Loan
• Loan Terms: 70% LTV, three-year fixed-rate structure loan, followed by 30 years of amortization

In this transaction, M&T Realty Capital Corporation provided a bridge loan worth $25,000,000 for the multifamily property. The loan terms include a 70% loan-to-value ratio and a three-year fixed-rate structure, followed by 30 years of amortization. The Opa-locka Community Development Corporation, represented by Willie Logan, served as the landlord in the deal.