Oğuz Murat Otay Of Nehir Group Secures $5M Construction Loan In Miami
FINANCED
$5,000,000
Florida
See Similar DealsDevelopment Site
Financed 04/15/2024
FINANCED
Oğuz Murat Otay Of Nehir Group Secures $5M Construction Loan In Miami
723 Northeast 77th Street
See Similar DealsDevelopment Site
Financed 04/15/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The property involved is a development site located at 723 Northeast 77th Street in Miami. It encompasses a building square footage of 16,061 and is meant for construction, facilitated through a loan amounting to $5,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Loan Type: Construction Loan
- Loan Terms: 24 months
- Lender: Berk Ocal - OCAL Capital Corp.
- Landlord: Oğuz Murat Otay - Nehir Group
This transaction involves key individuals such as Berk Ocal, representing OCAL Capital Corp. as the lender, and Oğuz Murat Otay, representing Nehir Group as the landlord. Their roles are crucial in facilitating the financing and management of the development project.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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