Sutlingar Property Group Refinances South Beach Multifamily Property For $2.6M Loan

Located in South Beach, Miami, the multifamily property at 850-860 Meridian Avenue recently underwent a refinance transaction. The loan, granted by Barclays, amounted to $2,625,000 and featured a 10-year fixed full term interest-only repayment plan. The financing was secured by Sutlingar Property Group, who owns the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,625,000
• Market: South Beach, Miami
• Lender: Barclays - Chris Burke & Peter Miller
• Landlord: Sutlingar Property Group
• Brokers: Solomon Michailow @Solomonmichailow, Max Herzog @JLL

The loan, provided by Barclays and facilitated by Solomon Michailow and Max Herzog from JLL, offered favorable terms to the borrower. This refinance deal marked the tightest CMBS Conduit Loan since 2009 outside of New York or Los Angeles, as noted by JLL.