Doron Broman And Johnny Erpenbeck Of Moderno Development Group Secure $117M Refinance Loan For Rivr Lofts
307 Southwest 5th Street
$117,000,000
$506/SF
Building Size
231,113 SF
Asset Type
MultiFamily
Closing
Jul 8, 2025
AI
The asset involved is a multifamily property located at 307 Southwest 5th Street, Fort Lauderdale, consisting of 352 units and covering a total area of 231,113 square feet. The property was refinanced for a total loan amount of $117,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $117,000,000
- Units: 352
- Square Footage: 231,113
- Loan Type: Refinance
- Landlord: Doron Broman & Johnny Erpenbeck - Moderno Development Group
- Brokers: Scott Aiese, Alex Staikos & Michael DiCosimo - JLL
This transaction involved landlords Doron Broman and Johnny Erpenbeck representing Moderno Development Group, while the brokerage team from JLL facilitated the deal, consisting of Scott Aiese, Alex Staikos, and Michael DiCosimo.
Players
Fort Lauderdale 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93