BridgeInvest Finances Four Acquisition Loans Totaling $11.24 MM in Delray Beach

1st Priority Deed of Trust

Loan Amount
$11,237,500
Property Type
Residential & Mixed-Use Land
Location
Delray Beach, FL

BridgeInvest recently closed four first-priority mortgage loans totaling $11.24 million secured by a mix of commercial and residential development sites in Delray Beach, Florida – the fastest growing city in Palm Beach County. The portfolio benefits from its close proximity to the Atlantic Ocean and Atlantic Avenue, the main entertainment corridor in Delray Beach. The loans allowed the Sponsor, National Realty Investment Advisors (NRIA), to continue their aggressive expansion into South Florida after developing a ten-year track record of residential and multifamily projects in the Northeast US.

 

Transaction Highlights

Flexible Structure
The loans allowed NRIA to pursue various development plans in order to maximize each property’s value.

Multiple Development Strategies
The portfolio is secured by land intended for both residential and mixed-use development, requiring complex analysis performed in a timely manner.

Repeat Borrower
BridgeInvest closed three separate loans with NRIA within thirty days, providing them with certainty of execution to take advantage of market opportunities.

Quick Closing
The fourth loan was funded within one week of the commitment date in order to accommodate the short closing timeline.