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Florida & Gulf Coast  + South Florida  + Finance  |  July 23, 2020
David Cohen
By: David Cohen

Marcus & Millichap Secures $10M Acquisition Financing for Miami MF Property

Marcus & Millichap Capital Corp. has arranged $9.8 million in acquisition financing for an 89-unit multifamily property located near Miami International Airport in Miami’s “Flagami” neighborhood.

Robert Bhat of Marcus & Millichap Capital Corp. secured the 12-year, 3.45% fixed-rate financing with four years of interest-only payments on behalf of the buyer, a local real estate developer and investor. The lender was not disclosed.

“This property historically maintains a strong occupancy due to its central location and proximity to the airport,” said Bhat. “The sellers recently renovated most of units, installed new floors and upgraded the kitchens.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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