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
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