Updated Mar 11, 2025
Post Road Group Provides $148M Construction Loan For 560-Unit Multifamily In Hialeah
980 East 26th Street
$148,000,000
Units
560
Asset Type
MultiFamily
Closing
Sep 22, 2022
About this deal
AI
The multifamily property located at 980 E 26th St in Hialeah has recently undergone a closed transaction. The property features a total of 560 units, making it a significant investment opportunity in the market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $148,000,000
- Lender: Post Road Group
- Landlord: MG Developer - Alirio Torrealba; Baron Property Group - Matt Baron
- Loan Type: Construction Loan
The lender responsible for financing this transaction is the Post Road Group. On the landlord side, the property is owned jointly by MG Developer, represented by Alirio Torrealba, and Baron Property Group, represented by Matt Baron. The loan amount for this deal is $148,000,000, provided as a construction loan.
On the Map
$148,000,000
MultiFamily
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Players
Hialeah MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93