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IceCap Group Provides Construction Loan To Concept Design And Builders For Development Site In Los Angeles

Property Image
FINANCED
$8,635,000

California

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Development Site20,934 SF
Financed 08/25/2023
the dealplayerscompscontact
Property Image
FINANCED

IceCap Group Provides Construction Loan To Concept Design And Builders For Development Site In Los Angeles

Development Site20,934 SF
Financed 08/25/2023
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$412
Total Square Footage:20,934 SF
Transaction Type:Loan

The asset involved in this transaction is a development site located in Los Angeles, encompassing a buildable square footage of 20,934. The loan was secured through IceCap Group for an amount of $8,635,000, designated for construction purposes.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $8,635,000
  • Lender: IceCap Group - Tameer Orevi
  • Landlord: Concept Design And Builders - Nick Nikkhoo
  • Loan Type: Construction
  • Loan Terms: 82.50% LTC, interest only loan, 24 month loan term

Tameer Orevi represented IceCap Group in this loan transaction. Likewise, Nick Nikkhoo represented Concept Design And Builders, facilitating the deal on their behalf.

Players

Ice Cap Group
Ice Cap Group
LENDER
NN
Nick Nikkhoo
3 deals$17.7M volume
LANDLORD
NN
Nick Nikkhoo
3 deals$17.7M volume
LANDLORD

Details

FINANCED
IMAGE: Tameer Orevi (IceCap Group) DATE: 08/25/2023 MARKET: Los Angeles ASSET TYPE: Development Site ~ BSF: 20,934 LENDER: IceCap Group (@IceCapGroup) - Tameer Orevi (@Tameerorevi) LANDLORD: Concept Design And Builders - Nick Nikkhoo LOAN AMOUNT: $8,635,000 LOAN TYPE: Construction LOAN TERMS: 82.50% LTC, interest only loan, 24 month loan term

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,635,000.00

Monthly NOI$57,566.67
Monthly Debt Service$54,579.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00