Updated Oct 28, 2024
Advenir Refinances Multifamily Property In Pembroke Pines With $58.7M Loan From Freddie Mac
7840 Northwest 3rd Street, Pembroke Pines, FL, USA
$58,680,000
Building Size
—
Asset Type
MultiFamily
Closing
May 27, 2020
About this deal
AI
Advenir at San Tropez, located at 7840 NW 3 St in Pembroke Pines, was recently involved in a multifamily property transaction. Advenir, the landlord of the property, refinanced the asset with the assistance of Charles Foschini and Christopher Apone from Berkadia Miami. The loan was provided by Freddie Mac.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,680,000
- Loan Type: Refinance
- Loan Terms: Fixed rate, 7-year loan with partial interest only and a 70% LTV
Charles Foschini and Christopher Apone from Berkadia Miami represented Advenir as brokers in this deal. The loan amount of $58,680,000 was secured from Freddie Mac, allowing Advenir to refinance the property at Advenir at San Tropez.
Players
Pembroke Pines 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93