BridgeInvest Closes a $28MM Acquisition and Construction Completion Loan in Downtown Miami
1st Priority Mortgage Loan
Loan Amount
$28,000,000
Property Type
Mixed-Use (Retail and Office)
Location
Miami, Florida
BridgeInvest is excited to announce the closing of a $28MM loan to finance the acquisition, construction completion, and lease-up of a three-story, 62k square foot retail and office property located on Block E of Miami Worldcenter in Miami, Florida. The Sponsor will complete construction and lease-up of the Property before pursuing a refinance and eventual sale.
Transaction Highlights:
- Single-source execution from mid-construction through stabilization
- Favorable structure tied to project milestones
- BridgeInvest's repeat neighborhood experience increases certainty of execution
