Updated Dec 4, 2024
Arion Fund Provides $5.45M Construction Loan For Miami Development Site
11995 Southwest 216th Street
$5,450,000
$176/SF
Building Size
30,939 SF
Asset Type
MultiFamily
Closing
Jan 31, 2024
About this deal
AI
A development site located at 11995 Southwest 216th Street in Miami has recently secured a construction loan worth $5,450,000 from Arion Fund. The loan is provided for the development of the property, which spans a total area of 30,939 square feet. The loan terms are set at 18.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,450,000
- Lender: Arion Fund
- Lender's Representative: Eli Ben-Meir & Devorah Ganz
- Broker: Corey Ahlawat
- Address: 11995 Southwest 216th Street, Miami
- Loan Type: Construction Loan
- Loan Terms: 18
Eli Ben-Meir and Devorah Ganz, representing Arion Fund, played a crucial role in facilitating the loan for the development site. Corey Ahlawat acted as the broker in this transaction. For inquiries regarding this financing, please contact [email protected].
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
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93