Updated Oct 29, 2024
MG Developer Secures $16M Equity Financing For Coral Gables Multifamily
760 Valencia Avenue, Coral Gables, FL, USA
$16,000,000
$3,288/SF
Building Size
4,866 SF
Asset Type
MultiFamily
Closing
Sep 30, 2020
About this deal
AI
In a recent transaction in Coral Gables, a multifamily property located at 760 Valencia Avenue and 735 Almeria Avenue was involved. The equity financing for this property amounted to $16,000,000. The lender in this deal was a New York-based family office, while the landlord was MG Developer, represented by @MGDeveloper on Instagram. Colliers International brokers Jeffrey Donnelly and Dmitry Levkov played a crucial role in facilitating this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Lender: New York-based family office
- Landlord: MG Developer - @MGDeveloper
- Brokers: Jeffrey Donnelly & Dmitry Levkov - Colliers International
The successful financing of this multifamily property in Coral Gables showcases the collaborative efforts of the New York-based family office, MG Developer, and the brokers from Colliers International. This transaction highlights the value and potential of the property market in Coral Gables.
On the Map
$16,000,000
$3,288/SF
MultiFamily
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Players
Coral Gables 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93