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Crescent Heights Secures $238.41 Million Refinance Loan For Forma Miami Multifamily Property

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FINANCED
$238,408,000
Sean Reimer
Dustin Stolly
Aaron Appel
+ 3

Florida

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MultiFamily420,000 SF
Financed 10/03/2025
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Property Image
FINANCED

Crescent Heights Secures $238.41 Million Refinance Loan For Forma Miami Multifamily Property

2900 Biscayne Boulevard

See Similar Deals
MultiFamily420,000 SF
Financed 10/03/2025
Sean Reimer
Dustin Stolly
Aaron Appel
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$567
Total Square Footage:420,000 SF
Transaction Type:Loan

The multifamily asset at Forma Miami, located at 2900 Biscayne Boulevard in the Miami market, encompasses 588 units across a total area of 420,000 square feet. The refinance transaction has a loan amount of $238,408,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $238,408,000
  • Lender: Walker & Dunlop via Freddie Mac
  • Loan Type: Refinance
  • Landlord: Crescent Heights
  • Loan Officers: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Stepniewski, Michael Ianno
  • Landlord Representatives: Russell Galbut, Sonny Kahn, Bruce Menin

Key representatives involved in this refinance deal include multiple loan officers aligned with Walker & Dunlop, demonstrating a collaborative effort among the team. Additionally, Crescent Heights is represented by Russell Galbut, Sonny Kahn, and Bruce Menin in this transaction.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
194 deals$32.5B volume
LENDER
Dustin Stolly
Walker & Dunlop
Dustin Stolly
267 deals$49.4B volume
LENDER
Sean Reimer
Walker & Dunlop
Sean Reimer
48 deals$9.6B volume
LENDER
Walker & Dunlop
Walker & Dunlop
LENDER
Walker & Dunlop
Walker & Dunlop
LENDER
Walker & Dunlop
Walker & Dunlop
LENDER
Walker & Dunlop
Walker & Dunlop
LENDER
Walker & Dunlop
Walker & Dunlop
LENDER
Freddie Mac
Freddie Mac
LENDER
RG
Russell Galbut
20 deals$1.1B volume
LANDLORD
Sonny Kahn
Sonny Kahn
8 deals$1B volume
LANDLORD
BM
Bruce Menin
6 deals$659.4M volume
LANDLORD

Details

FINANCED
IMAGE: Jonathan Schwartz, Adam Schwartz, Aaron Appel, Keith Kurland, Bruce Menin, Sonny Kahn, Russell Galbut, Sean Reimer, Dustin Stolly, Michael Ianno & Michael Stepniewski DATE: 10/03/2025 ADDRESS: Forma Miami - 2900 Biscayne Boulevard MARKET: Miami ASSET TYPE: Multifamily ~ UNITS: 588 ~ SF: 420,000 LENDER: Walker & Dunlop (@WalkerDunlop) via Freddie Mac (@FreddieMacCorp) – Aaron Appel, Jonathan Schwartz (@JSchwa1386), Keith Kurland (@KaKurland), Adam Schwartz (@AdamSchwartz88), Dustin Stolly, Sean Reimer, Michael Stepniewski & Michael Ianno (@MIanno20) - Walker & Dunlop LANDLORD: Crescent Heights (@CrescentHeights) – Russell Galbut (@RussellGalbut), Sonny Kahn, & Bruce Menin LOAN AMOUNT: $238,408,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$238,408,000.00

Monthly NOI$1,589,386.67
Monthly Debt Service$1,506,900.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00