Meridian Capital Group Secures $40M Construction Loan For Mixed-Use Property In New Orleans
FINANCED
$40,000,000
Louisiana
See Similar DealsMixed-use130 SF
Financed 09/11/2022
FINANCED
Meridian Capital Group Secures $40M Construction Loan For Mixed-Use Property In New Orleans
New Orleans, Louisiana, United States
See Similar DealsMixed-use130 SF
Financed 09/11/2022
Summary
LOUISIANA
Asset Type:Mixed-use
Price Per Square Foot:$307,692
Total Square Footage:130 SF
Transaction Type:Loan
A mixed-use property in New Orleans, LA has recently secured a construction loan of $40,000,000. The property, which spans an impressive 130,000 square feet, is set to undergo further development with the financial backing of this loan.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $40,000,000
- Market: New Orleans, LA
- BROKERS: Benjamin Nevid & Jared Fried - Meridian Capital Group
- Loan Type: Construction
Leading the deal are Benjamin Nevid and Jared Fried from the Meridian Capital Group. With their expertise and knowledge in the New Orleans market, they were instrumental in securing the substantial construction loan for this mixed-use property.
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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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