Arion Fund Provides $5.45M Construction Loan For Miami Development Site
FINANCED
$5,450,000
Florida
See Similar DealsMultiFamily30,939 SF
Financed 01/31/2024
FINANCED
Arion Fund Provides $5.45M Construction Loan For Miami Development Site
11995 Southwest 216th Street
See Similar DealsMultiFamily30,939 SF
Financed 01/31/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:30,939 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,450,000.00
Monthly NOI$36,333.33
Monthly Debt Service$34,447.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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