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Nelson Lopez Brokers $1.3M ...

Nelson Lopez Brokers $1.3M Refinance Loan In Auburndale For Development Site
FINANCEDDevelopment Site

Nelson Lopez Brokers $1.3M Refinance Loan In Auburndale For Development Site

$1,300,000

Building Size

Asset Type

Development Site

Closing

Mar 7, 2024

AI

A Development Site with a buildable square footage of 13,000 was involved in a loan transaction in Auburndale, FL. The property was refinanced for $1,300,000 with a 2-year loan term and no prepayment penalty. The loan was secured with the cooperation of the landlord, Carlos Perales Sihuay, and the lender, Starfund, with the representation of Nelson Lopez from United Mortgage Lenders.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,300,000
  • Market: Auburndale, FL
  • Loan Type: Refinance
  • Loan Terms: 2-Year loan with NO prepayment penalty
  • Buildable Square Footage: 13,000
  • Landlord: Carlos Perales Sihuay
  • Lender: Starfund
  • Broker: Nelson Lopez - United Mortgage Lenders

Nelson Lopez from United Mortgage Lenders played a pivotal role in facilitating the refinancing deal for the Development Site in Auburndale, FL. The collaboration between the landlord, Carlos Perales Sihuay, and the lender, Starfund, resulted in a successful transaction with favorable loan terms.

Players

Nelson Lopez

United Mortgage Lenders

Broker

$14.1M

vol

4 deals

Broker
Starfund
Starfund Lender

Market Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.20%

Cash-on-Cash

-3.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93