Rental Asset Management Secures $21.58 Million Refinance Loan From Fannie Mae For 170-Unit Multifamily Property

The property asset involved in this transaction is a multifamily asset consisting of 170 units located at 17800 Southwest 107th Avenue in the Miami market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,580,000
• Lender: Fannie Mae
• Landlord: Rental Asset Management
• Loan Type: Refinance
• Loan Terms: 5 years
• Amortization Schedule: 35 years
• Loan-to-Value: Approximately 65%
• Debt Service Coverage: 1.25x

The deal involved key individuals from Berkadia, including Matt Robbins, Mitch Sinberg, Scott Wadler, Brad Williamson, and Hugo Hernandez, who represented Rental Asset Management in this refinancing transaction.