Updated Oct 28, 2024
Maxx Properties Portfolio In Davie, North Miami & Coral Springs Acquires Multifamily Property For $67M Loan
North Miami, Florida, United States
$67,000,000
Units
371
Asset Type
MultiFamily
Closing
Mar 10, 2022
About this deal
AI
The Maxx Properties Portfolio, located in Davie, North Miami, and Coral Springs, was involved in a recent closed transaction. The multifamily property consists of 371 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,000,000
- Loan Type: Acquisition Loan
- Lender: Ladder Capital
- Landlord: Corinthian Capital & Triangle Capital Group
- Sale Brokers: Avery Klann, Tal Frydman, and Hampton Beebe - Newmark
- Loan Brokers: Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Daniel Matz, Eden Abraham, and Holden Witkoff - Newmark
- Market: Davie, North Miami, and Coral Springs
The deal was facilitated by Newmark, with Avery Klann, Tal Frydman, and Hampton Beebe acting as the sale brokers. The loan brokers involved in the transaction were Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Daniel Matz, Eden Abraham, and Holden Witkoff from Newmark.
On the Map
$67,000,000
MultiFamily
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Players
North Miami 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93