FINANCEDDevelopment Site
Meridian Capital Group Arranges $40M Refinance Loan For Development Site In Atlanta, GA
98 14th Street Northeast
$40,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 15, 2022
AI
A development site located at 98 14th Street NE in Atlanta, GA has recently undergone a loan refinance transaction. The property spans approximately 4 acres and is owned by an undisclosed landlord. The loan amount for this refinance was $40,000,000.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $40,000,000
- Lender: Benmark Capital – Mark Simon & Joe Moser
- Landlord's Rep: Brian Itzkowitz
- Broker: Isaac Filler, Yossi Koschitzki & Elliot Levy - Meridian Capital Group
The lender for this transaction was Benmark Capital, with Mark Simon and Joe Moser representing the company. Brian Itzkowitz served as the landlord's representative. The brokerage services were provided by Isaac Filler, Yossi Koschitzki, and Elliot Levy from Meridian Capital Group.
Players
Benmark CapitalBrokerage
Benmark CapitalLender
Rochester Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93