BridgeInvest Closes a $114.3MM Refinance and Construction Completion Loan in Miami Beach
1st Priority Mortgage Loan
Loan Amount
$114,300,000
Property Type
Mixed-Use (Retail and Office)
Location
Miami, Florida
BridgeInvest is excited to announce the closing of a $114.3MM loan to refinance and complete completion, and lease-up of a 6-story, 163k square foot retail and office property located off Lincoln Road in Miami Beach, Florida. The Sponsor will complete renovations of the Property and continue the lease up of the asset.
Transaction Highlights:
- BridgeInvest's repeat neighborhood experience increases certainty of execution
- Repeat borrower with deep Miami Real Estate experience
- Best in class highly amenitized renovation project with proven leasing
- Execution through complexity associated with municipal owned Ground Lease
