Macken Companies Secures $16.5M Construction Loan For North Miami Beach Multifamily
FINANCED
$16,500,000
Florida
See Similar DealsMultiFamily26,773 SF
Financed 07/28/2022
FINANCED
Macken Companies Secures $16.5M Construction Loan For North Miami Beach Multifamily
4098 Northeast 167th Street, North Miami Beach, Florida 33160, United States
See Similar DealsMultiFamily26,773 SF
Financed 07/28/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$616
Total Square Footage:26,773 SF
Transaction Type:Loan
A loan of $16,500,000 was secured for a multifamily property located at 4098 NE 167th St in North Miami Beach. The property consists of 10 units and has a total square footage of 26,773. The loan was provided by LV Lending, with Camilo Niño, Ricardo Uribe, and Alen Hernandez serving as representatives from the lending company. The construction loan was obtained from LV Lending.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Address: 4098 NE 167th St
- Market: North Miami Beach
- Units: 10
- Square Footage: 26,773
The landlord for this property is Macken Companies, represented by Alan S. Macken. They played a vital role in the transaction, ensuring the successful completion of the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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