BridgeInvest Funds $7.60 MM for Wynwood Retail Asset
1st Priority Mortgage Loan
BridgeInvest is excited to announce the recent closing of a $7,600,000 loan for an owner-occupied acquisition of a well-located retail asset with 13,700 leasable square feet of space in Miami, FL. The property benefits from its central location in the Wynwood neighborhood, which is a globally recognized destination for art and entertainment.
Transaction Highlights
Quick Closing
BridgeInvest closed the loan in under four weeks to meet the sponsor's expedited closing timeline.
First Time Sponsor
This transaction represents the sponsor’s first real estate acquisition after having successfully operated multiple food and beverage concepts in the greater Wynwood market.
Owner-Occupied Underwriting
BridgeInvest was able to underwrite the owner's business as part of the transaction considering they would occupy more than 60% of the total leasable space.
Complex Capital Stack
BridgeInvest creatively structured the deal around a nuanced capital stack, which included subordinate financing provided by the seller.
