GlobeSt: When Rehab Beats Removal - BridgeInvest

BridgeInvest has provided a $5.2 million acquisition and rehabilitation loan for a 75 year-old, 12-unit rental apartment building on Collins Avenue in Miami Beach, Fla. Eastern Union Funding arranged the financing, which includes a capital expenditure reserve for the gut renovation of the property.

Click here for the full article from GlobeSt.

Item Media

Other News

April 10, 2024

“Day of reckoning”: South Florida multifamily Investors feel sting of rising interest rates, insurance

“South Florida’s demand and rent dynamic are the best in the country, period,” said David Lynd, CEO of apartments developer and investor The Lynd Group. “But that has nothing to [...]

March 20, 2024

Commercial market: Is the tide shifting towards private lenders?

The well-documented woes facing small US regional banks in the commercial sector show little sign of easing, a trend that’s likely to see consolidation and a further swing towards lenders [...]

February 9, 2024

Commercial Real Estate Is in Trouble. Here’s What to Focus On.

The low occupancy rate is a ticking time bomb for owners of office buildings. When leases expire, tenants won’t want as much space as they have now. Vacancy rates will [...]

January 13, 2024

BridgeInvest is happy to share the 2023 Recap

January 12, 2024

Activate Hospitality buys West Palm Beach Holiday Inn and dev site for $24M

Activate Hospitality purchased a West Palm Beach Holiday Inn and an adjacent development site for $23.8 million in a bankruptcy sale. An affiliate of Miami-based Activate Hospitality acquired the 199-key [...]

December 7, 2023

“Tough decisions”: South Florida to feel sting as office debt matures

From late 2020 to early 2022, out-of-state companies moving to South Florida flocked to the canyon of skyscrapers in Brickell, the mural-adorned buildings in Wynwood and new projects in downtown West Palm Beach. The party hasn’t [...]