MIAMI — Berkadia has arranged a $17.8 million Fannie Mae loan for Rental Asset Management (RAM). The sponsor will refinance RAM Miami River North, a 96-unit community in the Little Havana area of Miami that RAM acquired in 2022. Berkadia’s Miami-based team consisted of Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Hugo Hernandez. RAM is an Oakland Park, Florida-based multifamily owner and operator. Berkadia also arranged the original acquisition loan through Amerant. “Almost three-quarters of the units at RAM Miami River North offer rents at 120 percent of the area median income, allowing it to qualify for Fannie Mae’s affordability program, which offers competitive pricing and amortization,” explained Robbins. Located at 590 West Flagler St., RAM Miami River North was built in 2022 and includes one- and two-bedroom units averaging 650 square feet. Amenities include a pool, a fitness center and a package service center.
Located at 590 West Flagler St. in Miami, RAM Miami River North was built in 2022. Rental Asset Management acquired the community the same year. Berkadia has arranged a refinancing loan on behalf of the owner.
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