Updated Dec 4, 2024
Regions Real Estate Capital Arranges $70M Refinance Loan For Miramar Multifamily Property
3165 Southwest 122nd Avenue
$70,000,000
$209/SF
Building Size
334,920 SF
Asset Type
MultiFamily
Closing
Mar 1, 2024
About this deal
AI
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.
On the Map
$70,000,000
$209/SF
MultiFamily
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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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93