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Berkadia Secures $51.5M Refinance Loan For Fort Lauderdale Multifamily Property

Property Image
FINANCED
$51,500,000
Brad Williamson
Mitch Sinberg
Matthew (Matt) Robbins
+ 2

Florida

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MultiFamily296 SF
Financed 05/05/2023
the dealplayerscompscontact
Property Image
FINANCED

Berkadia Secures $51.5M Refinance Loan For Fort Lauderdale Multifamily Property

5201 N Dixie Hwy Fort Lauderdale, FL 33334, USA

See Similar Deals
MultiFamily296 SF
Financed 05/05/2023
Brad Williamson
Mitch Sinberg
Matthew (Matt) Robbins
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$173,986
Total Square Footage:296 SF
Transaction Type:Loan

The multifamily property located at 5201 North Dixie Highway in Fort Lauderdale has recently undergone a refinancing transaction. The property consists of 296 units and is owned by R.O.I Capital.

Summary of Transaction Details

Berkadia facilitated the refinancing, securing a $42.54 million loan from Freddie Mac. The loan has a fixed-rate and a term of five years, with two years of interest-only payments. The loan allows for open prepayment in the third year. In addition to the loan, RCG Longview provided $8.96 million in equity as the preferred equity provider.

Players

Brad Williamson
Berkadia
Brad Williamson
107 deals$6.8B volume(786) 646-2580
BROKER
Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Wesley Moczul
Berkadia
Wesley Moczul
20 deals$905.2M volume
BROKER
Freddie Mac
Freddie Mac
LENDER
RCG Longview
RCG Longview
LENDER

Details

FINANCED
IMAGE: Matthew (Matt) Robbins, Mitch Sinberg, Scott Wadler, Brad Williamson & Wesley Moczul DATE: 05/05/2023 ADDRESS: 5201 North Dixie Highway MARKET: Fort Lauderdale ASSET TYPE: Multifamily ~ UNITS: 296 LENDER: Freddie Mac & RCG Longview LANDLORD: R.O.I Capital BROKERS: Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew (Matt) Robbins & Wesley Moczul - Berkadia (@Berkadia) LOAN AMOUNT: $51,500,000 LOAN TYPE: Refinance LOAN TERMS: Berkadia secured a senior lender and preferred equity provider for the $51.5 million refinancing. Freddie Mac provided the $42.54 million, five-year, fixed-rate loan with two years of interest-only with open prepay in year three. The preferred equity provider, RCG Longview, contributed $8.96 million in equity to the deal.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$51,500,000.00

Monthly NOI$343,333.33
Monthly Debt Service$325,515.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00