Updated Oct 28, 2024
Legacy Residential Group Acquires Multifamily Property In Miami With $50M Construction Loan
3645 Northwest 36th Street, Miami, Florida 33142, United States
$50,000,000
Units
266
Asset Type
MultiFamily
Closing
Jun 12, 2022
About this deal
AI
The multifamily property located at 3645 NW 36th St in Miami has recently undergone a closed transaction. The property spans over 3.6 acres and consists of 266 units. It is owned by Legacy Residential Group, represented by Tomas Cabrerizo. The property was secured through a construction loan provided by SouthState Bank, amounting to $50,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 3645 NW 36th St, Miami
- Units: 266
- Acreage: 3.6
- Lender: SouthState Bank
- Landlord: Legacy Residential Group - Tomas Cabrerizo
Tomas Cabrerizo, representing Legacy Residential Group, oversaw the deal as the landlord's representative. The construction loan provided by SouthState Bank allowed for the acquisition and development of this multifamily property in Miami.
On the Map
$50,000,000
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93