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420 julia street

Meridian Capital Group Arranges $40M Construction Loan For 130,000 SF Mixed-Use Property In New Orleans
FINANCEDMixed-use

Meridian Capital Group Arranges $40M Construction Loan For 130,000 SF Mixed-Use Property In New Orleans

$40,000,000

$307/SF

Building Size

130,000 SF

Asset Type

Mixed-use

Closing

Nov 9, 2022

AI

Meridian Capital Group's Benjamin Nevid and Jared Fried facilitated a $40,000,000.00 construction loan for a mixed-use property located in New Orleans, LA. The property spans approximately 130,000 square feet, making it a substantial addition to the market.

Summary of transation details

  • Property Type: Mixed-Use
  • Transaction Amount: $40,000,000.00
  • Market: New Orleans, LA
  • Brokers: Benjamin Nevid & Jared Fried - Meridian Capital Group
  • Loan Type: Construction

This deal was made possible through the efforts of Benjamin Nevid and Jared Fried from Meridian Capital Group. They successfully secured the construction loan for this significant mixed-use property in New Orleans, LA.

Players

Benjamin Nevid

Meridian Capital Group

Broker

$2.4B

vol

24 deals

Broker

Jacksonville Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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