BridgeInvest Lends $64M for South Florida Assisted-Living Development

Rieber Developments has landed an $83.8 million debt package to build an assisted-living mixed-use development in metropolitan Miami, Commercial Observer has learned.

Miami-based BridgeInvest supplied a $63.5 million senior construction loan for Rieber’s 400,000-square-foot project called 1212 Aventura in Aventura, Fla. It will feature 163 luxury senior residences, 29,684 square feet of retail and 25,796 square feet of medical offices. An additional $20.3 million mezzanine loan was provided by an undisclosed international lender for the development.

See the full article on Commercial Observer.