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
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