Berkadia Secures $17.64M Refinance Loan For 96 Unit Multifamily Property In Miami

The property asset involved in this transaction is a multifamily building located at 590 West Flagler Street in Miami. The asset comprises 96 units. The total loan amount secured for this property is $17,644,000, classified under a refinance loan type. The loan comes with a five-year term, featuring a fixed-rate structure, which includes a three-year interest-only period and a 35-year amortization schedule.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,644,000
• Lender: Berkadia via Fannie Mae
• Landlord: Rental Asset Management (RAM)
• Brokers: Matt Robbins, Hugo Hernandez, Mitch Sinberg, Brad Williamson & Scott Wadler - Berkadia
• Loan Terms: A five-year, fixed-rate loan with a three-year interest-only period and a 35-year amortization schedule.

The key participants in this transaction are Rental Asset Management (RAM) representing the landlord and Berkadia acting as the lender through Fannie Mae. The brokerage team involved in facilitating the deal includes Matt Robbins, Hugo Hernandez, Mitch Sinberg, Brad Williamson, and Scott Wadler, all affiliated with Berkadia.