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Kursat Misirlioglu Of Mirka Investments Secures $47M Construction Loan From KeyBank CDLI In Oceanside
FINANCED
$47,000,000
California
See Similar DealsDevelopment Site
Financed 07/08/2025
FINANCED
Kursat Misirlioglu Of Mirka Investments Secures $47M Construction Loan From KeyBank CDLI In Oceanside
2136 South El Camino Real
See Similar DealsDevelopment Site
Financed 07/08/2025
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan
The asset involved is a development site located at 2136 South El Camino Real in Oceanside. The project will consist of 111 units designated for affordable housing. The loan for this construction project totals $47 million, facilitated by KeyBank CDLI. This financing is a vital component for the upcoming development effort in the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $47,000,000
- Lender: Hector Zuniga & Matthew Haas - KeyBank CDLI
- Landlord: Kursat Misirlioglu - Mirka Investments
- Additional Financing: $27.8 million permanent loan placement from CMFA, Monarch Private Capital, and WNC
KeyBank's Matthew Haas and Hector Zuniga structured the financing deal. Mirka Investments, represented by Kursat Misirlioglu, is securing the necessary funds to develop the site, making it a significant investment for their portfolio in Oceanside.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,000,000.00
Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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