Masoud Shojaee's Shoma Group Secures $84M Floating-Rate Loan For Doral Multifamily
FINANCED
$84,000,000
Florida
See Similar DealsMultiFamily731 SF
Financed 12/18/2020
FINANCED
Masoud Shojaee's Shoma Group Secures $84M Floating-Rate Loan For Doral Multifamily
9400 Northwest 41st Street, Doral, FL, USA
See Similar DealsMultiFamily731 SF
Financed 12/18/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$114,911
Total Square Footage:731 SF
Transaction Type:Loan
A multifamily property located at 9400 Northwest 41st Street in Doral has been involved in a recent closed transaction. The property consists of 226 units and was owned by Masoud Shojaee, who is affiliated with the Shoma Group, acting as the landlord. The transaction took place on 12/18/2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Date: 12/18/2020
- Address: 9400 Northwest 41st Street
- Market: Doral
- Units: 226
The lender involved in the transaction was Pensam. They provided a floating-rate loan to the buyer. The loan amount was $84,000,000. The loan has a 3-year term with an extension option.
It is worth noting that Masoud Shojaee, representing the Shoma Group, acted as the landlord in this transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$84,000,000.00
Monthly NOI$560,000.00
Monthly Debt Service$530,937.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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