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:
- 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.
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