Updated Aug 26, 2026
Naranja Lakes CRA Provides $7 Million Loan To Housing Trust Group For Development Site In Naranja
27525 Dixie Highway
$7,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 26, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 27501 & 27525 South Dixie Highway in Naranja, FL. The total area of the site is 4.61 acres. A loan amount of $7 million has been allocated for the development of the property.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Loan Provider: Naranja Lakes CRA
- Landlord: Matthew Rieger - Housing Trust Group
- Project Name: Lakeview at Naranja
- Project Cost: $126.4 million
- Number of Apartments: 328
- Commercial Space: 11,466 square feet
- Income Restriction: Households earning 30% to 80% of area median income for 99 years
The Naranja Lakes CRA is considering awarding the 4.61-acre site to Housing Trust Group for a nominal price. This deal will facilitate the development of an affordable housing project in Miami-Dade County aimed at providing accessible housing to eligible households.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93