Updated Oct 28, 2024
Barrington Brothers LLC Secures $60M Construction Loan For Miami Multifamily Property
495 Northeast 83rd Street, El Portal, Florida 33138, United States
$60,000,000
$296/SF
Building Size
202,238 SF
Asset Type
MultiFamily
Closing
Mar 10, 2022
About this deal
AI
The multifamily property located at 495 Northeast 83rd St in Miami has been involved in a recent transaction. The property consists of 282 units and is owned by Barrington Brothers LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $60,000,000
- Market: Miami
- Loan Type: Construction Loan
Trez Capital, represented by Morley Greene, provided a construction loan of $60,000,000 for the property. JLL Capital Markets acted as the broker in this transaction.
The multifamily loan at 495 Northeast 83rd Street, El Portal, Florida 33138, United States in Miami, Florida financed for $60M in 2022. Reported inventory is 202,238 square feet across 282 units, or about 296 per square foot. Melissa Rose, Michael DiCosimo, JLL appear on the loan alongside JLL. This page is the Miami, Florida file for the 495 Northeast 83rd Street, El Portal, Florida 33138, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Miami sit in the Market section below. Filter that Miami multifamily set by closing date to see what else financed near 495 Northeast 83rd Street, El Portal, Florida 33138, United States around 2022. Published consideration for 495 Northeast 83rd Street, El Portal, Florida 33138, United States is $60M, dated 2022. Cite this Barrington Brothers LLC Secures $60M Construction Loan For Miami Multifamily Property loan when underwriting similar multifamily product around Miami, Florida.
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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93