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Orevi Capital Provides $3.165M Loan To Blake Samuel For Development Site In West Palm Beach

Property Image
FINANCED
$3,165,000

Florida

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Development Site6,534 SF
Financed 01/15/2025
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Property Image
FINANCED

Orevi Capital Provides $3.165M Loan To Blake Samuel For Development Site In West Palm Beach

210 Monceaux Road

See Similar Deals
Development Site6,534 SF
Financed 01/15/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$484
Total Square Footage:6,534 SF
Transaction Type:Loan

The property involved in this transaction is a development site located at 210 Monceaux Road in the West Palm Beach market. The site has a building size factor (BSF) of 4,305 and a total square footage of 6,534. The loan amount associated with this property is $3,165,000, specifically designated for construction purposes.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,165,000
  • Lender: Orevi Capital - Tameer Orevi
  • Landlord: Blake Samuel
  • Loan Type: Construction
  • Loan Terms: 80% LTC, 24 month loan term, no prepayment penalty

This transaction is facilitated by Orevi Capital, represented by Tameer Orevi. The borrower, under the guidance of Blake Samuel as the landlord, is set to demolish the existing structure to reconstruct a new luxury spec home, with the financing terms provided allowing for flexibility during the construction phase.

Players

Orevi Capital
Orevi Capital
LENDER

Details

FINANCED
IMAGE: Tameer Orevi DATE: 01/15/2025 ADDRESS: 210 Monceaux Road MARKET: West Palm Beach ASSET TYPE: Development Site ~ BSF: 4,305 ~ SF: 6,534 LENDER: Orevi Capital (@OreviCapital) - Tameer Orevi (@TameerOrevi) LANDLORD: Blake Samuel LOAN AMOUNT: $3,165,000 LOAN TYPE: Construction LOAN TERMS: 80% LTC, 24 month loan term, no prepayment penalty NOTE FROM LENDER: The borrower purchased this project to demolish and reconstruct a new luxury spec home. Orevi Capital provided 80% LTC on a 24 month loan term with no prepayment penalty and was able to close just prior to the project being fully RTI.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,165,000.00

Monthly NOI$21,100.00
Monthly Debt Service$20,004.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00