Equity Lending Solutions Funds $2.4M Construction Loan For Placida Development Site
$2,400,000
Building Size
—
Asset Type
Development Site
Closing
Feb 29, 2024
AI
Development Site located in Placida, FL was involved in a loan transaction facilitated by Equity Lending Solutions. The developer, Carlos Perales Sihuay, secured a $2,400,000 Construction Loan with a 2-year term and no prepayment penalty. Nelson (Nelly) Lopez from United Mortgage Corporation acted as the broker in this deal.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Market: Placida, FL
- Lender: Equity Lending Solutions
- Developer: Carlos Perales Sihuay
- Broker: Nelson (Nelly) Lopez - United Mortgage Corporation
- Loan Type: Construction Loan
- Loan Terms: 2yr term NO prepayment penalty
The collaboration in this real estate transaction involved key individuals such as developer Carlos Perales Sihuay and broker Nelson (Nelly) Lopez from United Mortgage Corporation. The lender, Equity Lending Solutions, provided the necessary funding for the development site in Placida, FL.
Players
Market 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93