Valley National Bank Provides $30 Million Refinance For YMP Real Estate Management's Park Towers

The property involved in the transaction is a 210-unit multifamily asset located at 777 Northwest 155th Lane in Miami, FL. The total square footage of the property is 224,519. The refinancing amount secured for this asset is $30,000,000, with Valley National Bank providing a fixed-rate loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Address: 777 Northwest 155th Lane
• Market: Miami, FL
• Units: 210
• Square Footage: 224,519
• Lender: Valley National Bank
• Landlord: Moshe Popack - YMP Real Estate Management
• Brokers: David Hayum & Michael Farkovits - Meridian Capital Group
• Loan Type: Refinance
• Loan Terms: Fixed-rate

YMP Real Estate Management has owned the Park Towers apartment community since 2012 and has implemented a long-term value-add strategy to reposition the property successfully. The refinancing transaction was arranged by Meridian Capital Group, represented by brokers David Hayum and Michael Farkovits.