Miami, FL

$7,600,000

Retail

Purchase

09/20/2021
Transaction by
BridgeInvest
BridgeInvest, a direct private lending firm based in Miami, closed a $7.6MM bridge loan for the acquisition of an owner-occupied retail property in the Wynwood neighborhood of Miami. The property is well-located and consists of 13,700 square feet. We creatively structured the deal around a nuanced capital stack, which included subordinate financing provided by the seller. We were able to underwrite the owner's business as part of the transaction considering they would occupy more than 60% of the total leasable space. And this transaction represents the sponsor’s first real estate acquisition after having successfully operated multiple food and beverage concepts in the greater Wynwood market. BridgeInvest closed the loan in under four weeks to meet the sponsor's expedited closing timeline. This bridge loan was funded in September 2021.