Updated Jul 16, 2025
Tony Par Secures $4 Million Construction Loan From Tameer Orevi For Multifamily Project In Miami
1190 Northwest 8th Avenue
$4,000,000
$400/SF
Building Size
9,993 SF
Asset Type
MultiFamily
Closing
Jun 30, 2025
About this deal
AI
This multifamily property located at 1190 Northwest 8th Avenue in Miami consists of 18 units and spans a total of 9,993 square feet. The property is currently mid construction, with approximately 50% of the project completed.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Loan Amount: $4,000,000
- Loan Type: Construction
- Loan Terms: 71% LTARV, 18 month loan term, no prepayment penalty, financed payoff/IR/total remaining budget
- Lender: Tameer Orevi - Orevi Capital
- Landlord: Tony Par
Tameer Orevi of Orevi Capital facilitated the refinancing of the existing debt, which included an interest reserve and 100% of the remaining construction budget for the ongoing project.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93