Updated Oct 28, 2024
Alta Developers Secures $77.1M Construction Loan For Miami Multifamily Property
9600 South Dixie Highway, Miami, FL 33156, USA
$77,100,000
$6,787/SF
Building Size
11,360 SF
Asset Type
MultiFamily
Closing
Nov 9, 2021
About this deal
AI
A construction loan in the amount of $77,100,000 was secured for a multifamily property in Miami. The property, located at 9600 South Dixie Highway, spans across 1.5 acres and comprises 296 units. The loan was provided by Mack Real Estate Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $77,100,000
- Address: 9600 South Dixie Highway
- Market: Miami
- Units: 296
- Acres: 1.5
The landlord for this property is Alta Developers, represented by Raimundo Onetto. The loan was obtained for construction purposes, providing funding for the development of the multifamily property.
On the Map
$77,100,000
$6,787/SF
MultiFamily
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Players
Kendall 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93