Rafael Celis And Nicolas Salgado Of Estela Living Secures $57M Construction Loan For Sabana Reserve
Northwest 35th Lane Road
$57,000,000
$27/SF
Building Size
2,047,320 SF
Asset Type
Development Site
Closing
Nov 20, 2024
AI
The property asset involved in this transaction is a for-sale single-family home community located at 3718 NW 44th Ave in Ocala. The asset spans a total square footage of 2,047,320 and is associated with a construction loan amount of $57,000,000.
Summary of transaction details:
- Property Type: For-Sale Single Family Home Community
- Transaction Amount: $57,000,000
- Address: 3718 NW 44th Ave
- Market: Ocala
- Asset Size: 2,047,320 SF
- Landlord: Sabana Reserve
- Brokers: Max La Cava & Pier Barinci - JLL
- Sponsor: Rafael Celis, Nicolas Salgado, Luis Yanes Sr & Luis Yanes Jr - Estela Living
- Loan Type: Construction
The transaction includes key individuals such as Rafael Celis, Nicolas Salgado, Luis Yanes Sr, and Luis Yanes Jr who represent the sponsor, Estela Living. The brokers involved, Max La Cava and Pier Barinci, represent JLL in this deal, facilitating the construction loan for the property.
Players
Ocala 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93