Aztec Group ran a broad process and received proposals for the financing of 25 Mirage from banks, life insurance companies, Fannie Mae and Freddie Mac. The financing was awarded to Ocean Bank.
The loan was provided by MetLife and provides for full-term interest-only and a 36 month term.
The project consists of 156 rental apartments located in Miami’s Health District.
The project consists of 188 rental apartments and 45,000 square feet of office space and retail space.
Aztec Group’s Peter Mekras arranged the financing.
The project consists of 90 rental apartments and 9,642 square feet of ground floor retail.
The subject property features two 5-story office buildings on 5.78-acres with frontage on SR-7 (441) just 1-mile north of the Golden Glades Interchange.
The buyer is planning a multifamilyn development.
With this transaction, Peter Mekras has closed three South Florida multifamily transactions representing 692 units and $70 million in the last ninety days. CLICK ON THE HEADLINE FOR MORE
The sale price equates to $118,000 per unit, or $155 per foot, for the 1969-built property. CLICK ON THE HEADLINE FOR MORE
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