FINANCED
Bank OZK Provides $172M Construction Loan For 2411 Laguna Condominium Transaction
2411 Laguna Circle
MultiFamily
Financed 72 days ago
Summary
Loan
FLORIDA
MultiFamily
The condominium located at 2411 Laguna Circle in North Miami consists of 292 units and was developed by Jackie Soffer & Alykhan Merali of Turnberry Associates. The construction project was funded by a $172,000,000 construction loan provided by Bank OZK. The loan terms include a 3-year period with two six-month extension options, all under full-term interest-only conditions.
Summary of transaction details:
- Property Type: Condominium
- Transaction Amount: $172,000,000
- Lender: Bank OZK
- Developer: Jackie Soffer & Alykhan Merali - Turnberry Associates
- Brokers: Scott Wadler, Mitch Sinberg, Brad Williamson, Matthew Robbins & Alec Fox - Berkadia
The deal involved key individuals such as Scott Wadler, Mitch Sinberg, Brad Williamson, Matthew Robbins, and Alec Fox representing Berkadia in the transaction. Jackie Soffer and Alykhan Merali, the developers behind the project, worked closely with the lender, Bank OZK, to secure the construction loan for the condominium project in North Miami.
Players
All
7
Agents
5
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Matthew Robbins, Alec Fox, Mitch Sinberg, Scott Wadler, Brad Williamson, Jackie Soffer & Alykhan Merali
DATE: 03/25/2024
ADDRESS: 2411 Laguna Circle
MARKET: North Miami
ASSET TYPE: Condominium ~ UNITS: 292
LENDER: Bank OZK (@BankOZK)
DEVELOPER: Jackie Soffer & Alykhan Merali - Turnberry Associates
BROKERS: Scott Wadler (@SWadler1), Mitch Sinberg (@TheJewishIceberg), Brad Williamson, Matthew Robbins & Alec Fox (@Alecfox1) - Berkadia (@Berkadia)
LOAN AMOUNT: $172,000,000
LOAN TYPE: Construction Loan
LOAN TERMS: 3 years with two six-month extension options (full-term interest-only including extension options)View on map
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Address2411 Laguna Circle
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