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Resident Group Secures $113.78 Million Loan For 279-Unit Luxury Apartment Tower In Miami
FINANCED
$113,780,000
Florida
See Similar DealsMultiFamily540,000 SF
Financed 10/15/2025
FINANCED
Resident Group Secures $113.78 Million Loan For 279-Unit Luxury Apartment Tower In Miami
452 Northeast 31st Street
See Similar DealsMultiFamily540,000 SF
Financed 10/15/2025
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$210
Total Square Footage:540,000 SF
Transaction Type:Loan
The transaction involves a multifamily property located at 452 Northeast 31st Street, Miami, comprising 279 units within a 32-story structure totaling 540,000 square feet. The transaction secured a loan amount of $113,780,000 through an FHA 223(f) insured loan via HUD.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $113,780,000
- Units: 279
- Square Footage: 540,000
- Address: 452 Northeast 31st Street
- Market: Miami
- Landlord: Noël Bejarano, Daniel Rincon, Korner & Carlos Ortiz - Resident Group
- Brokers: Jesse Wright & Josh Odessky - JLL
JLL Capital Markets facilitated this transaction, representing the Resident Group, with Jesse Wright highlighting the property's high-end amenities and its significance within Miami's multifamily sector. The property is managed by Greystar.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$113,780,000.00
Monthly NOI$758,533.33
Monthly Debt Service$719,167.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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