Meridian Capital Group Arranges $40M Construction Loan For 130,000 SF Mixed-Use Property In New Orleans
FINANCED
$40,000,000
Los Angeles
See Similar DealsMixed-use130,000 SF
Financed 11/09/2022
FINANCED
Meridian Capital Group Arranges $40M Construction Loan For 130,000 SF Mixed-Use Property In New Orleans
Mixed-use130,000 SF
Financed 11/09/2022
Summary
Asset Type:Mixed-use
Price Per Square Foot:$307
Total Square Footage:130,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$40,000,000.00
Monthly NOI$266,666.67
Monthly Debt Service$252,827.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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