Commercial Land, Industrial
BridgeInvest closed a first-priority loan secured by two 10-acre land parcels of prime industrial sites in Doral and Hialeah, FL in October 2016. The sponsor approached BridgeInvest to leverage their significant equity in the Doral asset to execute a quick closing on the Hialeah asset. Once constructed, the two projects will total approximately 400,000 SF of class A warehouse space featuring small bays and high ceiling heights. Both properties are located in first-rate industrial submarkets of Miami with vacancies consistently below 5%. BridgeInvest worked with the Borrower to cross-collateralize the properties, allowing the Borrower to acquire the Hialeah property without additional cash investment. Their close proximity to key thoroughfares such as Highway 826, Highway 836 and the Florida Turnpike make the investment attractive on a long-term basis due to the decreasing availability of undeveloped land in Miami-Dade County.