Gabe Ormachea Secures $3.15M Bridge Loan From Eli Ben-Meir Of Arion Fund For Multifamily Asset

The property asset involved in this transaction is located at 1101 Northeast 80th Street in Miami. It is a multifamily asset comprising 24 units and covers a total square footage of 19,990. The loan amount secured for this property is $3,150,000, classified as a bridge loan with cash-out terms.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,150,000
• Address: 1101 Northeast 80th Street
• Market: Miami
• Units: 24
• Square Footage: 19,990
• Lender: Eli Ben-Meir - Arion Fund
• Borrower: Gabe Ormachea
• Loan Type: Bridge
• Loan Terms: Cash-Out

Eli Ben-Meir from Arion Fund represents the lender in this transaction, while Gabe Ormachea is the borrower. The loan was structured as a full cash-out refinance and successfully closed in just 18 calendar days. According to the lender, Arion Fund is actively lending in the South Florida multifamily market.