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1925 Metropolitan Blvd

Brett Forman, Ben Jacobson, Ty Regier, Scott Mehlman & Cameron Fluery Lend $113.6M For Naples Development Site
FINANCEDDevelopment Site

Brett Forman, Ben Jacobson, Ty Regier, Scott Mehlman & Cameron Fluery Lend $113.6M For Naples Development Site

1925 Metropolitan Blvd

$113,604,228

$16,229,175/SF

Building Size

7 SF

Asset Type

Development Site

Closing

Nov 8, 2024

AI

The asset involved in the transaction is a development site located at 1925 Metropolitan Boulevard in Naples. The site has a building square footage of 143,976. The total loan amount for this development project is $113,604,228, with the loan specifically classified as a construction loan.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $113,604,228
  • Address: 1925 Metropolitan Boulevard
  • Market: Naples
  • Asset Type: Development Site
  • Building Square Footage: 143,976
  • Lender: Brett Forman, Ben Jacobson, Ty Regier, Scott Mehlman & Cameron Fluery - Forman Capital
  • Developers: Fred Pezeshkan & Jerry Starkey

The key individuals involved in the transaction include Brett Forman, Ben Jacobson, Ty Regier, Scott Mehlman, and Cameron Fluery, who represent Forman Capital as the lenders. Fred Pezeshkan and Jerry Starkey are the developers responsible for this project.

Players

Ben Jacobson

Forman Capital

Broker

$232M

vol

7 deals

Broker
Forman Capital
Forman CapitalLender

Naples Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93