Miami, FL

$3,100,000

Commercial Land

Purchase

06/30/2014
Transaction by
BridgeInvest
$3.1M Senior bridge loan secured by 7 adjacent commercial parcels in the heart of Miami’s Art and Entertainment District. BridgeInvest was able to structure and fund the bridge loan in less than three weeks and offer a competitive rate in the 9% range. The property is situated along NE 14th Street and N Miami Avenue consisting of approximately 34,000 square feet of land area and 300,000 square feet of development rights. The BridgeInvest team was proud to take part in the continued revitalization of Miami’s Art and Entertainment District and is confident in the success of the project given the Borrower’s unique development experience coupled with the growing demand for new, high-quality residential units in the area. This loan was funded in June 2014.