Cedar Street Co Secures $62.5M Construction Loan For Multifamily Project In Miami

The property asset involved in the transaction is a multifamily asset comprising 191 units located at 7737 Northeast 2nd Avenue in Miami. The loan amount associated with this transaction is $62,500,000, categorized as a construction loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $62,500,000
• Lender: Daniel Jacobs & Michael Van Der Poel - ACRE
• Landlord: Alex Samoylovich & Mark Heffron - Cedar Street Co
• Brokers: Scott Wadler, Michael Slovitt & Patrick Johnson - Berkadia
• Date of transaction: 5/23/2025

The deal features key individuals such as Daniel Jacobs and Michael Van Der Poel representing ACRE as the lenders, alongside Alex Samoylovich and Mark Heffron from Cedar Street Co who represent the landlord interests. Berkadia's brokers include Scott Wadler, Michael Slovitt, and Patrick Johnson, who facilitated the transaction.