Refinance Bridge Loan for Luxury Condominium in Miami, Florida

Funded by BridgeInvest


Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Property City


Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Deal Highlights

We navigated the legal & structural challenges associated w/ an ongoing unit interior buildout.

Deal Summary

BridgeInvest, a direct CRE private lending firm, recently closed a $9,445,800 1st lien position bridge loan secured by two condominium units at the Echo Brickell condominium in Miami, FL. The loan is collateralized by two of the premier units within the building: the Lower Penthouse and the Carlos Ott Penthouse. The Lower Penthouse is a “move-in” ready 2,400 square-foot unit with 4 bedrooms, 4.5 bathrooms and soaring 13-foot ceilings. The Carlos Ott Penthouse is an approximately 10,000 square-foot unit sprawled over the entirety of the top two floors of the building with 4 bedrooms and 6.5 bathrooms. Both units are equipped with state-of-the-art Sub-Zero and Wolf appliances and luxury flooring and finishes throughout. The BridgeInvest loan will allow the developer to refinance its prior loan and provide funds to complete the build-out of the larger penthouse. This loan is BridgeInvest’s second loan with the Borrower, evidencing the value proposition BridgeInvest is able to provide to repeat Borrowers. BridgeInvest was able to navigate the legal and structural challenges associated with closing a loan with ongoing unit interior-buildout at the building. The Carlos Ott Penthouse is one of the largest and most desirable condominium units in Miami. BridgeInvest leveraged its vast network of local experts to underwrite the property, proving its capability to lend against the most unique projects. This CRE refinance bridge loan was funded in October 2019.

Funded By


Bridge & Construction Loans for CRE in the Southeast and Texas