Updated Mar 11, 2025
Ruy Rodriguez Of Elite Lending Secures $9M Bridge Loan For FIU Student Housing In Sweetwater
Southwest 5th Street
$9,000,000
$155/SF
Building Size
57,900 SF
Asset Type
Student Housing
Closing
Jun 21, 2024
About this deal
AI
The asset involved in this transaction is a student housing project located on Southwest 5th Street in Sweetwater. The property spans 57,900 square feet and consists of 820 beds, designed to accommodate students. The loan amount secured for this project is $9,000,000, with a bridge loan structure in place.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $9,000,000
- Landlord: FIU Student Housing
- Broker: Ruy Rodriguez - Elite Lending
- Additional Representative: Robert Bencomo
- Loan Type: Bridge
Ruy Rodriguez from Elite Lending collaborated with the developer to facilitate the bridge loan for the student housing project, ensuring the project remains on schedule. Contact Ruy Rodriguez for all your commercial financing needs.
Players
Miami Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93