MIAMI (Jan. 29, 2024) – Linkvest Capital, through its lending affiliate, LV Lending, a local private lender specializing in bridge loans for commercial and residential investment properties and developments, today announced the closing of a $12.38 million loan for the acquisition of three acres of vacant land strategically located along Clearwater Bay at 551 Gulf Boulevard in Clearwater Beach, FL. The transaction was spearheaded by Camilo Niño, Ricardo Uribe and Alen Hernandez of Linkvest Capital on behalf of the buyers, U.S. Development, LLC, led by John M. Farina, and BH3 Management LLC, led by Daniel Lebensohn. The buyers acquired the site under the entity Forte Sands, LLC from Fisherman’s Wharf of Clearwater, Inc. for $24.75 million. Melissa Rose of JLL represented the buyers. The loan and acquisition closed on January 29th.
U.S Development LLC and BH3 Management have plans to construct two luxurious condominium buildings comprising 86 spacious units averaging 2,847 square feet directly overlooking the picturesque waters of Clearwater Beach. The buildings will feature a modern design, best-in-class finishes and lush amenities including a private beach.
Conveniently positioned at the southeast corner of South Gulf Boulevard and Gulf Boulevard, the site boasts 300 feet of frontage along Clearwater Bay, a resort and residential-oriented community nestled on a barrier island with the Gulf of Mexico to the west and Clearwater Harbor to the east. The 2.5-mile stretch of Clearwater Beach, renowned for its white sand and crystal-clear waters, attracts five million visitors annually. It has consistently secured its place as the #1 beach in the United States and ranks among the top five destinations, according to travel and leisure organizations.
Led by John M. Farina who boasts nearly two decades of experience in real estate investment, development and construction, U.S. Development LLC has an impressive track record with $1.1 billion worth of residential projects in its East Coast portfolio. BH3 Management, a vertically integrated real estate company founded in 2009, brings over eight million square feet of acquired, developed, restructured, or under development experience to the table.
For further information, please contact Linkvest (LV) Lending at (305) 523-6576, email [email protected], or visit www.linkvestcapital.com.
