CIM Group Provides $120M Construction Loan For Mixed-Use Project In Orlando
434 North Orange Avenue, Orlando, FL, USA
$120,000,000
$772/SF
Building Size
155,344 SF
Asset Type
Mixed-use
Closing
Aug 27, 2021
About this deal
AI
The property involved in the transaction is a mixed-use asset located at 434 N. Orange Ave in Orlando. The transaction took place on August 27, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $120,000,000
- Lender: CIM Group - Shaul Kuba & Richard Ressler
- Landlord: Property Markets Group (PMG) & Raven Capital Management
- Loan Type: Construction Loan
The key individuals involved in the deal are Richard Ressler, Shaul Kuba, and Avi Shemesh. They can be seen in the provided image. CIM Group, represented by Shaul Kuba and Richard Ressler, served as the lender for the transaction. The property is owned by Property Markets Group (PMG) and Raven Capital Management.
Players
Orlando Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93