BridgeInvest Closes a $50 MM Construction Loan for the Development of a 180-unit Multifamily Project in Hollywood, FL
1st Priority Mortgage Loan
Loan Amount
$50,000,000
Property Type
Multifamily
Location
Hollywood, FL
BridgeInvest is excited to announce the successful closing of a $50,000,000 construction loan for a 180-unit Class-A multifamily development in Hollywood, FL. The project will offer a variety of living options, including studios, one and two-bedroom apartments, and live-work units and is being constructed in accordance with the Florida Green Building Coalition standards, showcasing a commitment to sustainability.
Transaction Highlights:
- $50 MM construction loan to develop a 180-unit multifamily property in Hollywood, Florida
- Underwrote a structure that included mezzanine finance to ensure the sponsor had the necessary capital to complete the project
- Provided a bespoke advance structure to ensure the loan satisfied the sponsor's unique needs
