Updated Oct 28, 2024
West View Apartments Refinances Multifamily Property In Hialeah With $24.5M Loan From Fannie Mae
980 West 74th Street, Hialeah, FL 33014, USA
$24,480,000
$32,903/SF
Building Size
744 SF
Asset Type
MultiFamily
Closing
May 6, 2021
About this deal
AI
West View Apartments, located at 850-980 W 74th St in Hialeah, has secured a refinancing loan of $24,480,000. The property, which falls under the multifamily category, successfully obtained a loan from Fannie Mae. The terms of the loan include a 5-year interest-only period and no reserves, with a spread of 2.07%. This transaction was facilitated by Robert Bhat of an undisclosed agency acting as the broker for West View Apartments.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $24,480,000
- Loan Type: Refinance
- Lender: Fannie Mae
- Landlord: West View Apartments
- Broker: Robert Bhat - Undisclosed Agency
West View Apartments in Hialeah successfully obtained a refinancing loan of $24,480,000 from Fannie Mae. The loan terms include a 5-year interest-only period and no reserves, with a spread of 2.07%. Robert Bhat of an undisclosed agency played a key role in facilitating this transaction as the broker representing West View Apartments.
Players
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Robert Bhat to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93