Armando Codina & Ana-Marie Codina Secure $124M Refinancing For Palma Towers In Doral

The property asset involved is comprised of two multifamily towers located at 5250 Northwest 84th Avenue and 5225 Northwest 85th Avenue in Doral, featuring a total of 459 units across 19 and 20 stories. The recent refinancing amounts to $124 million, increasing from a previous loan of $92.8 million, facilitating further investment in the properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $124,000,000
• Lender: Andrew J. McMahon - Guardian Life Insurance Company of America
• Landlord: Armando Codina & Ana-Marie Codina - Codina Partners
• Previous Loan Amount: $92,800,000
• Increase in Loan Amount: $31,200,000
• Purpose of Loan: Refinance
• Notable Transaction: Buyout of Invesco’s stake in Tower One

Key individuals in this transaction include Armando Codina and Ana-Marie Codina from Codina Partners, who are instrumental in securing the refinancing deal. Their efforts in increasing the financing allowed for enhanced ownership control over Palma Tower One and facilitated strategic growth within the Downtown Doral area.