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
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