Berkadia Secures $17.64M Refinance Loan For 96 Unit Multifamily Property In Miami
590 West Flagler Street
$17,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 15, 2025
AI
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.
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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93