Updated Mar 17, 2025
Related Cos. Secures $47.9M Loan For Fort Lauderdale Multifamily At 400 Southwest First Ave
400 Southwest 1st Avenue, Miami, FL 33130
$47,900,000
$208,260/SF
Building Size
230 SF
Asset Type
MultiFamily
Closing
Dec 23, 2019
About this deal
AI
The multifamily property located at 400 Southwest First Ave in Fort Lauderdale has been involved in a recent transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $47,900,000
- Address: 400 Southwest First Ave, Fort Lauderdale
- Market: Fort Lauderdale
- Asset Type: Multifamily
Truist Financial Corporation (BB&T-SunTrust) provided a loan of $47,900,000 for this transaction. The deal involved a total of 230 units. The landlord for the property is Related Cos.
The loan was facilitated by Truist Financial Corporation (BB&T-SunTrust), and the landlord for the property is Related Cos.
Players
Homestead 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93