Kushner Companies Lands $157.5 Million Loan From Apollo Global Management And Macquarie Group
555 Northeast 34th Street
$157,500,000
$415/SF
Building Size
379,000 SF
Asset Type
MultiFamily
Closing
Dec 18, 2024
AI
The Hamilton is a multifamily asset located at 555 Northeast 34th Street in Miami. This property features 276 units within a total square footage of 379,000. The acquisition loan secured for this asset amounts to $157,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $157,500,000
- Market: Miami
- Lender: Apollo Global Management & Macquarie Group
- Lender's Representatives: Scott Weiner & Ben Gray
- Landlord: Kushner Companies
- Landlord's Representatives: Laurent Morali & Ben Curtiss
- Brokers: Walker & Dunlop
- Broker Representatives: Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Stepniewski & Michael Ianno
This transaction involved key players from various companies, with Scott Weiner and Ben Gray representing the lenders, while Laurent Morali and Ben Curtiss represented the landlord, Kushner Companies. Walker & Dunlop acted as brokers for the deal, with a team led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Stepniewski, and Michael Ianno contributing to the transaction.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93