Shaun Ashkenazy & Jose Santana Secure $2.05M Bridge Loan For Orlando Development Site

The 2.12 acre development site in Orlando, with a building square footage of 92,347 was involved in a loan transaction. Onyx Funding arranged a $2,050,000 bridge loan, representing a 50% LTV cash-out refinance, to facilitate the sponsors' plans for 25 built-for-rent SFRs.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,050,000
• Market: Orlando
• Asset Type: Development Site
• BSF: 92,347
• Brokers: Shaun Ashkenazy & Jose Santana - Onyx Funding

Shaun Ashkenazy and Jose Santana from Onyx Funding were the brokers who successfully orchestrated the 50% LTV cash-out refinance on the development site. The refinancing provided the sponsors with the necessary funds to pay off a maturing note and allowed them additional time to complete their project of 25 single-family rentals.