Agricultural, Commercial Land
BridgeInvest funded an $8.0MM senior cash-out loan secured by a 494-acre agricultural portfolio in Homestead, Miami-Dade County, Florida. The portfolio is comprised of five large land parcels that benefit from their proximity to major road section lines as well as income generated from fruit farms. The sponsor is a foreign national who approached BridgeInvest for a cash-out loan on an expedited basis in order to obtain liquidity for his other business ventures. BridgeInvest used its underwriting experience and local knowledge to understand the intrinsic value of the agricultural land. The loan was tailored to the borrower’s complex organizational structure with foreign owners. This bridge loan was funded in August 2017.