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3825 Northwest 7th Street

Updated Jan 6, 2025

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

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:

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.

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$187,000,000

$505/SF

MultiFamily

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Players

Aaron Appel

Walker & Dunlop

Broker

$36.2B

vol

212 deals

Broker
JVP Management
JVP ManagementLender
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Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $505 per square foot on a published $187M for 370,325 square feet (2024).

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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

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