Regions Real Estate Capital Arranges $70M Refinance Loan For Miramar Multifamily Property
FINANCED
$70,000,000
Florida
See Similar DealsMultiFamily334,920 SF
Financed 03/01/2024
FINANCED
Regions Real Estate Capital Arranges $70M Refinance Loan For Miramar Multifamily Property
3165 Southwest 122nd Avenue
See Similar DealsMultiFamily334,920 SF
Financed 03/01/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$209
Total Square Footage:334,920 SF
Transaction Type:Loan
The multifamily property located at 3165 Southwest 122nd Avenue in Miramar spans 334,920 square feet with 316 units. The property was recently involved in a refinancing deal with a loan amount of $70,000,000 provided by Life Co. The landlord for this asset is FCI, and the transaction was facilitated by brokers Eric Fixler and Aidan Wright from Regions Real Estate Capital.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $70,000,000
- Market: Miramar
- Units: 316
- Square Footage: 334,920
- Lender: Life Co
- Landlord: FCI
- Brokers: Eric Fixler & Aidan Wright - Regions Real Estate Capital
- Loan Type: Refinance
- Loan Terms: 10 years Fixed Rate
The professionals involved in this refinancing deal are Aidan Wright and Eric Fixler, representing their agency, Regions Real Estate Capital. The loan terms for this transaction include a 10-year fixed rate, providing stability for the involved parties in the Miramar market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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