Refinance Bridge Loan for Marina in Dania Beach, Florida

Funded by LV Lending

$4,900,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

10/01/2019

Property Type
Marina
Property City

Dania Beach

Property State

FL

Lien Type

1st Mortgage

Payment Type

Interest Only

Building Square Footage

35,476

Lot Acreage

2.9

Deal Summary

LV Lending, a direct private lending firm in South Florida, announced the closing of a $4.9 million 1st lien position refinance bridge loan secured by a Marina in Dania Beach, FL. The refinancing was facilitated by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending on behalf of the Borrower, Michael Lally of Dania Beach Marina Corp. Rajeev Patil of SL Capital represented Lally on the loan. The closing took place on Oct. 1, 2019. Dania Beach Marina features a 35,476 square-foot building with 55-foot ceilings, 210 boat slips under dry storage, offices, a repair and service area, an outdoor restaurant, and a dock master’s office. Dania Beach Marina Corp. acquired the 2.9-acre site in 2012 and is currently working with the City of Dania Beach to rezone the property into a mixed-use site with a multi-family component.

Funded By

LV Lending

Licensed Private Lender: approchability, fast closings, transparency.