Florida Construction Lenders for Commercial Real Estate
Are you building a commercial property in Florida? On this page you'll find a list of private construction lenders for commercial real estate ground-up projects in Florida's urban areas. The maximum loan-to-completed value (LTCV) for most lenders is 70%. You typically need to contribute 25%-35% of the project costs and have cash reserves. Development experience is always required. Most lenders will require the project to be fully entitled and shovel ready. Some lenders will consider funding up to 50% of the land acquisition. Our platform has construction lenders for various types of commercial real estate, including industrial, retail, self-storage, hotels, gas stations and others.Searching...
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Florida is a massive state, and many lenders only consider CRE construction loans in particular areas. Filter your search by selecting a metro area:
Miami & Fort Lauderdale | Orlando | Tampa Bay | Jacksonville | Palm Beach County | Fort Myers | Tallahassee | Pensacola
Funded CRE Construction Loans in Florida
Private Construction Loan for Mixed-Use Property in Aventura, South Florida
$36,000,000
BridgeInvest, a direct CRE private lender, funded a $36MM 1st lien position private construction loan secured by a 10-story mixed-use project in Aventura, Miami-Dade County, Florida. We provided the initial acquisition financing for the property before closing on the construction loan. This saved the Borrower time and provided peace of mind that the project would be fully funded at acquisition closing. We were able to structure the loan within a capital stack that included equity, EB-5 funds, condo deposits, and other subordinating debt. The property had both a for-sale condominium component and an operating hotel component which will be separated through a master condominium regime creating a challenge for other lenders to underwrite. The project will include a 100-room Tapestry Collection by Hilton and approximately 50,000 square feet of office and retail condominiums. The property is centrally located adjacent to the Aventura Hospital and within one mile of Aventura Mall. Project plans call for extended-stay rooms featuring kitchenettes and premium amenities in addition to office suites designed for medical tenants who will provide ancillary services to the hospital. Our loan will allow the Sponsor to complete construction, sell the remaining condo units and stabilize the hotel after opening. This CRE private construction loan was funded in July 2019.
Private Construction Loan for Luxury Apartments in Doral, South Florida
$24,250,000
BridgeInvest, a direct CRE private lender, funded a $24MM 1st lien position construction loan for a 133-unit, luxury apartment building in Fontainebleau, a submarket of Doral, Florida. The loan allowed the Borrower to immediately commence with the construction of the fully entitled and permitted project. We structured the loan to allow the Borrower to draw funds commensurate with the construction schedule without incurring additional costs on undrawn capital. We were able to underwrite the transaction and provide the necessary leverage even though the project marks the Sponsor’s first development project. The completed project will be 7 stories featuring units with high-end finishes along with desirable amenities such as a resort-style pool, outdoor lounge, private garden, and fitness center. The apartments will be in close proximity to FIU, Mall of the Americas, and Miami International Airport while offering easy access to the Dolphin Expressway. This CRE private construction loan was funded in November 2018.