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4241 Aurora Street

Adrian Rahimi & Mike Wadler Of BHI Provide $67.5 Million Construction Loan For Cora Merrick Park
FINANCEDDevelopment Site

Adrian Rahimi & Mike Wadler Of BHI Provide $67.5 Million Construction Loan For Cora Merrick Park

4241 Aurora Street

$67,500,000

Building Size

Asset Type

Development Site

Closing

May 26, 2026

AI

The property asset involved in this transaction is a mixed-use development located at 4241 Aurora Street in Coral Gables. This asset comprises residential, office, and retail spaces, supported by a construction loan amounting to $67,500,000.

Summary of transaction details:

  • Property Type: Mixed-Use (Residential, Office & Retail)
  • Transaction Amount: $67,500,000
  • Lender: Adrian Rahimi & Mike Wadler - BHI
  • Landlord: Eduardo Otaola - Constellation Group
  • Landlord: Jose Boschetti Sr. - The Boschetti Group
  • brokers: Scott Wadler & Matt Nihan - Berkadia
  • Loan Type: Construction

This transaction includes key figures such as lenders Adrian Rahimi and Mike Wadler representing BHI, and landlords Eduardo Otaola and Jose Boschetti Sr. from Constellation Group and The Boschetti Group, respectively. The brokerage team facilitating the deal comprises Scott Wadler and Matt Nihan from Berkadia.

Players

Scott Wadler

Berkadia

Broker

$10.3B

vol

169 deals

Broker
Adrian Rahimi

Adrian Rahimi

Lender

$828.8M

vol

6 deals

Lender

Eduardo Otaola

Constellation Group

Landlord

$181.1M

vol

7 deals

Landlord

Miami 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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93