Tony Par Secures $4.7 Million Loan From Tameer Orevi For Multifamily Project In Miami

The property asset involved in this transaction is a multifamily building located at 1165 Northwest 8th Avenue in Miami. The asset comprises 24 units and has a total square footage of 9,872. The loan amount for this construction project is $4,700,000, which was secured for financing purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,700,000
• Lender: Tameer Orevi - Orevi Capital
• Landlord: Tony Par
• Loan Type: Construction
• Loan Terms: 65% LTARV, 18 month loan term, no prepayment penalty, financed payoff/all closing costs/IR/total remaining budget

This transaction indicates the refinance of existing debt and includes an interest reserve as well as financing for all closing costs and 100% of the remaining construction budget. The project is noted to be about 75% complete at the time of this financing.