FINANCEDDevelopment Site
RBI Private Lending Provides $1.47M Refinance Loan For Development Site In Clearwater
1405 North Osceola Avenue
$1,470,000
Building Size
—
Asset Type
Development Site
Closing
Jul 14, 2025
AI
A development site located at 1405 North Osceola Avenue in Clearwater has been financed through a refinance loan of $1,470,000. This transaction involves a new ground-up construction project for a seasoned real estate investor, with the loan structured as a construction loan for a term of 12 months.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,470,000
- Lender: Shani Ben-Izhak - RBI Private Lending
- Loan Type: Refinance
- Loan Terms: Construction loan - 12 months
The lender, RBI Private Lending, has emphasized the growing demand in the Clearwater/Tampa market for ground-up developments and aims to assist investors with meeting their lending goals. Shani Ben-Izhak is the representative involved in structuring this financing deal.
Clearwater 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
10.79%
Cash-on-Cash
-3.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93