Resident Group Secures $113.78 Million Loan For 279-Unit Luxury Apartment Tower In Miami
452 Northeast 31st Street
$113,780,000
$210/SF
Building Size
540,000 SF
Asset Type
MultiFamily
Closing
Oct 15, 2025
AI
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
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93