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3825 Northwest 7th Street

Terra's David Martin Secures $187 Million Refinance Loan For Multifamily Property In Miami
FINANCEDMultiFamily

Terra's David Martin Secures $187 Million Refinance Loan For Multifamily Property In Miami

3825 Northwest 7th Street

$187,000,000

$505/SF

Building Size

370,325 SF

Asset Type

MultiFamily

Closing

Dec 31, 2024

AI

The property asset involved in the transaction is a multifamily complex located at 3825 Northwest 7th Street in Miami. This asset encompasses 470 units and offers a total square footage of 370,325. The loan involved in this transaction is a refinance with a total amount of $187,000,000.

Summary of transaction details:

The key individuals involved in the transaction include the lender JVP Management and the landlord, Terra, represented by David Martin. The brokerage team from Walker & Dunlop includes Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Christopher de Raet, and Marlon Robins, who facilitated the refinancing deal for the multifunctional asset.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
JVP Management
JVP ManagementLender

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

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93