Originated a $15.0MM First Mortgage Loan to refinance a 0.88-acre site in Miami, FL, zoned as of right for multifamily or condominium development. The loan refinanced an existing loan, fund shortfall, property tax, and insurance reserves and cover closing costs. The Property is a rare development site in the Arts and Entertainment District, situated near […]
A $32MM First Mortgage secured by the fee simple interest in an 8.2-acre development site planned for a luxury waterfront condominium development in Palm Beach Gardens, FL. The loan was used to complete an assemblage of the Property, pay transaction costs, and fund carry, debt service and predevelopment reserves. The Sponsor is a local developer […]
A $30MM First Mortgage secured by the fee simple interest in a 114-acre development parcel located in Suffolk County, NY. The loan was used to complete an assemblage of the property pay transaction costs, and fund carry, debt service and predevelopment reserves. The Borrower’s business plan during the term of the loan is to pursue […]