BridgeInvest Closes a $77.66 MM Acquisition Loan in North Bay Village, FL
1st Priority Mortgage Loan
Loan Amount
$77,660,000
Property Type
Multifamily
Location
North Bay Village, FL
BridgeInvest is excited to announce the closing of a $77.66 million acquisition loan that is senior secured by two multifamily properties in the Miami-area neighborhood of North Bay Village. The Sponsor will use the funds to acquire the properties, renovate all 338 units and convert them to condominiums.
Transaction Highlights:
- Waterfront location in the rapidly growing North Bay Village neighborhood.
- Relatively affordable planned sellout prices should attract a wide range of investors and buyers.
- Experienced local borrower.
