non-advertiser
The financing is reportedly the largest HUD loan issued in Florida, as well as the largest multifamily loan approved by HUD’s Southeast regional office and the biggest HUD transaction completed by Dwight Capital.
Longpoint was represented by Jose Sasson-Lerner and Roberto Susi of Axiom Capital Advisors. Ralph Merritt of Commercial Property Group represented the seller in the off-market transaction.
Scheduled to open in August, the 10,000-square-foot space will serve as the company’s operational and creative hub as the company continues to expand. Close to 20 employees have relocated from Baltimore to support the company’s next phase of growth. The company also plans to hire between 30-60 additional full-time Miami-based employees over the next year.
JLL represented the borrower in securing the three-year loan through S3 Capital.
Cushman & Wakefield’s Stuart Duffin, SIOR, CCIM, and JJ Sanguily represented the seller in the transaction.
Vision Marine Technologies expects three pending Florida property sales to generate about $13.1 million in gross proceeds as the company consolidates operations around its Dania Beach and Fort Lauderdale waterfront platform.
At approximately $90,000 per unit, the site’s per-unit pricing is the highest ever paid for a South Miami development site.
River Landing remains one of the only mixed-use developments in Miami accessible by car, train, bike, and boat.
The sale marks a nearly 490% gain in value over 14 years. The property last sold in 2012 for $3.9 million.
The building, which dropped to a low of 62% leased during the pandemic, now stands at 97% occupied with a diversified tenant roster comprising 43 tenants in 15 distinct industries.
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.
