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
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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93