Deal Details
Private Loan Type
Refinance
Approx. Funding Date
10/01/2019
Property Type
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.