Updated Jan 6, 2025
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $187,000,000
- Address: 3825 Northwest 7th Street
- Market: Miami
- Units: 470
- Square Footage: 370,325
- Lender: JVP Management
- Landlord: Terra - David Martin
- Broker Representatives: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Christopher de Raet, Marlon Robins - Walker & Dunlop
- Loan Type: Refinance
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.
On the Map
$187,000,000
$505/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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93