Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
During his tenure as President and Head of Leasing at Tricera Capital, he was instrumental in developing and implementing the company’s institutional leasing platform, a testament to his ability to drive growth.
Oak Row Equities purchased the $38.5 million site off-market.
The property is currently over 90 percent sold.
Here are the most popular news headlines this past week on CRE-sources.
The portfolio consists of 16 apartment buildings.
He has also been consistently recognized by NAIOP South Florida, including Sale of the Year (2023), Private Office Sale of the Year (2021, 2022), Rookie of the Year award (2018), and Capital Markets Team of the Year (2017).
The project will be situated on the 4.2-acre vacant lot at the corner of NW 53rd Street and NW 52nd Terrace.
Here are the most popular news headlines this past week on CRE-sources.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.