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Andrew Rasken Of META Development Secures $28M Construction Loan From Arixa Capital For OPUS

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FINANCED
$28,000,000

Florida

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Development Site
Financed 08/12/2025
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Property Image
FINANCED

Andrew Rasken Of META Development Secures $28M Construction Loan From Arixa Capital For OPUS

3137 Southwest 27th Avenue

See Similar Deals
Development Site
Financed 08/12/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The property involved in this transaction is a development site located at 3137 Southwest 27th Avenue in Miami. This asset is part of OPUS, a boutique luxury project comprising 14 units that are over 50% sold, with residences starting at $2.8 million. The project is designed by Kobi Karp and João Armentano and includes amenities such as a rooftop pool, a fitness center, a spa, and autonomous parking, with completion expected in 2027.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $28,000,000
  • Lender: Arixa Capital
  • Landlord: Andrew Rasken - META Development
  • Loan Type: Construction

The deal was facilitated by Andrew Rasken, representing META Development, which secured the financial backing for the OPUS project to aid in its construction and deliver the luxury residences to the market by 2027.

Players

Arixa Capital
Arixa Capital
LENDER
Andrew Rasken
META Development
Andrew Rasken
3 deals$56.5M volume
LANDLORD
META Development
META Development
LANDLORD

Details

FINANCED
IMAGE: Andrew Rasken DATE: 08/12/2025 ADDRESS: 3137 Southwest 27th Avenue MARKET: Miami ASSET TYPE: Development Site LENDER: Arixa Capital LANDLORD: Andrew Rasken - META Development (@MetaDevelopmen.US) LOAN AMOUNT: $28,000,000 LOAN TYPE: Construction NOTE: META Development secured a $28M construction loan from Arixa Capital for OPUS, a 14-unit boutique luxury project in Coconut Grove that is over 50% sold and slated for 2027 delivery. The residences, starting at $2.8M, feature designs by Kobi Karp and João Armentano, with amenities including a rooftop pool, fitness center, spa, and autonomous parking

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$28,000,000.00

Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00