Bridge Industrial Secures $77.55 Million In Permanent Financing For Bridge Point AVE In Miami
The loan was arranged by Steve Roth, Bill Jurjovec and team at CBRE’s Debt & Structured Finance group.
The loan was arranged by Steve Roth, Bill Jurjovec and team at CBRE’s Debt & Structured Finance group.
The six-parcel assemblage forms a contiguous development site located in Miami’s Arts & Entertainment District. and is one of the last collections of undeveloped parcels in Miami’s urban core.
The deal illustrates investor appetite for Build-to-Rent (BTR) product in land-constrained South Florida.
Grover Corlew anticipates immediately breaking ground with completion expected by May 2027.
The transaction marks the first time in over 25 years that the 78,000-square-foot retail center has changed hands.
JLL Capital Markets led the sales efforts for the 371,000-square-foot light industrial portfolio adjacent to Miami International Airport.
Newmark’s Co-Presidents of Global Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, Vice Chairman Nick Scribani, and Director Chris Lozinak secured the financing from Barings.
Corebridge acquired the property from Longpoint Partners for $43.5 million.
Read on for the most popular news headlines this past week on CRE-sources.
The 4,502-square-foot live-work, loft-style industrial building—located at 437 NW 1st Avenue—was sold by the Charles L. Peet Revocable Trust.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.
