Bank OZK Provides $80.9M Construction Loan For Downtown Miami Multifamily By Aria Development
FINANCED
$80,924,000
+ 1
Florida
See Similar DealsMultiFamily
Financed 11/15/2022
FINANCED
Bank OZK Provides $80.9M Construction Loan For Downtown Miami Multifamily By Aria Development
501 Northeast 1st Avenue
See Similar DealsMultiFamily
Financed 11/15/2022
+ 1
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 501 NE 1st Avenue in Downtown Miami. The property comprises 448 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $80,924,000
- Address: 501 NE 1st Avenue, Downtown Miami
- Market: Downtown Miami
- Lender: Bank OZK
- Landlord: David Arditi & Marco Ziff - Aria Development
The loan for this transaction was provided by Bank OZK. The landlords involved in the deal are David Arditi and Marco Ziff, representing Aria Development. The brokers involved in the transaction are Scott Wadler, Matthew Nihan, and Michael Basinski, who represent Berkadia.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,924,000.00
Monthly NOI$539,493.33
Monthly Debt Service$511,494.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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