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Michael Sprotzer & Jay Bailyn Acquire Multifamily Property In Homestead With $25.32M Loan From Argentic

1427 Southeast 24th Place
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This MultiFamily property located in FL received a loan of $25,320,000 almost 3 years ago. The brokers of the deal were Matthew (Matt) Williams and Fernando Riboli

The multifamily property located at 1427 SE 24th Place in Homestead was recently acquired through a loan transaction. The loan, facilitated by Argentic, amounted to $25,320,000. The transaction took place on April 22, 2021.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $25,320,000
  • Address: 1427 SE 24th Place, Homestead
  • Market: Homestead
  • Loan Type: Acquisition

The property was acquired by Michael Sprotzer and Jay Bailyn, who acted as the landlords in the transaction. Representing the buyers were Fernando Riboli and Matt Williams from the agency. Their role as brokers ensured a smooth acquisition process.

With this loan transaction, the buyers were able to secure the multifamily property, located at 1427 SE 24th Place in Homestead. The deal was facilitated by Argentic, who provided the necessary financing. The acquisition was spearheaded by Michael Sprotzer and Jay Bailyn, the landlords of the property. Fernando Riboli and Matt Williams represented the buyers as their brokers, ensuring a successful transaction.

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Deals
  • Location
    1427 SE 24th Pl, Homestead, FL, USA1427 SE 24th Pl, Homestead, FL, USA
  • Loan Value
    $25,320,000$25,320,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Matthew (Matt) Williams

Matthew (Matt) Williams

Deals9
Financed$396.3M

Fernando Riboli

Fernando Riboli

Deals1
Financed$25.3M

Agency

Newmark

Newmark

Agency
Deals3893
Volume$397.4B

Argentic Real Estate Investment

Argentic Real Estate Investment

Lender
Deals14
Volume$ 374.4B

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Deal Summary

LOAN IMAGE: Fernando Riboli, Matt Williams, Michael Sprotzer, Adam Spengler & Jay Bailyn DATE: 04/22/2021 ADDRESS: 1427 SE 24th Place MARKET: Homestead ASSET TYPE: Multifamily LOAN TYPE: Acquisition LENDER: Argentic LANDLORD: Michael Sprotzer & Jay Bailyn BROKERS: Fernando Riboli & Matt Williams LOAN AMOUNT: $25,320,000

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1427 Southeast 24th Place

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