Miami, FL

$2,500,000

Industrial

Purchase

01/31/2015
Transaction by
BridgeInvest
$2.5MM Bridge loan for the acquisition of a prime industrial property in the Wynwood Arts District of Miami. Due to a dispute between the borrower and the seller at the closing table, the transaction was tied up in court for nearly two years. Eventually, the Borrower was forced to close the transaction within only 3 weeks of an unpredictable court decision. Despite the complication, Jon’s firm was able to structure an attractive loan at over 80% loan-to-cost. Located on two large land parcels totaling over 48,000 SF, the one-story warehouse features nearly 27,000 square feet of indoor space. The site benefits from significant storefront exposure as it spans an entire block and also features over 20 parking spaces. Jon and his team are confident in the success of the project due to the continued influx of new tenants into the area and the asset’s marquee location within the emerging sub-market.