Updated Oct 28, 2024
Truist Bank Provides $77.8M Refinance Loan For 297-Unit Multifamily In Edgewater, Miami
455 Northeast 24th Street, Miami, Florida 33137, United States
$77,805,000
$286/SF
Building Size
272,000 SF
Asset Type
MultiFamily
Closing
May 4, 2022
About this deal
AI
Located at 455 NE 24th St in Edgewater, Miami, this multifamily property consists of 297 units with a total square footage of 272,000. The transaction took place on 05/05/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $77,805,000
- Loan Type: Refinance
- Loan Terms: 5 year deal
- Market: Edgewater, Miami
The lender for this transaction was Truist Bank, with Mill Creek Residential as the landlord. The deal was facilitated by brokers Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, and Mo Beler from Walker & Dunlop.
Note that no additional information was provided for this transaction.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Mo Beler to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93