Paradigm Commercial Real Estate Arranges $12.3M Construction Loan For Nursing Home In Venice

An 64,000 square foot nursing home located at 5161 Tamiami Trail in Venice has been involved in a recent transaction. The transaction details include:

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $12,330,000
• Market: Venice
• Brokers: Adrian Edery & Sara Frankel - Paradigm Commercial Real Estate
• Loan Type: Construction Loan
• Loan Terms: 65% LTC, Prime + 1%, 7-year Term, 24 Months IO + 5 years of 30-year Amort

The nursing home, with a size of 64,000 square feet, is located at 5161 Tamiami Trail in Venice. The transaction involved a construction loan of $12,330,000. The loan terms include a 65% loan-to-cost ratio, with a interest rate of Prime + 1%. The loan has a 7-year term with 24 months of interest-only payments, followed by 5 years of 30-year amortized payments.

The deal was facilitated by Adrian Edery and Sara Frankel from Paradigm Commercial Real Estate, who represented the parties involved in the transaction.