Sunny Isles Beach, FL

$3,000,000

Condominium

Refinance

02/28/2015
Transaction by
BridgeInvest
BridgeInvest funded a $3,000,000 private money loan secured by two waterfront units at the Trump Palace Condominium Building in Sunny Isles Beach. The high-leverage loan represented over 75% of the original purchase price of the units. The Borrowers needed to recoup most of their equity in the properties to execute the purchase of another investment property. Each unit is a 3-bedroom, 3.5-bathroom condo with over 2,000 square feet featuring expansive water views from multiple balconies. Both units are used as investment properties and are currently cash flowing. The Borrowers plan to refinance in 1-2 years to pay off this private mortgage, which was funded in February 2015.