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98 14th Street Northeast

Meridian Capital Group Arranges $40M Refinance Loan For Development Site In Atlanta, GA
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

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

Isaac Filler

Filler Capital

Broker

$1.7B

vol

77 deals

Broker
Benmark Capital
Benmark CapitalBrokerage

Mark Simon

Lender

$109.7M

vol

7 deals

Lender
Benmark Capital
Benmark CapitalLender

Rochester Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

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