LV LENDING CLOSES $8.3 MILLION IN FINANCING FOR CONGRESS GROUP’S ACQUISITION OF CIVICA CENTER IN MIAMI HEALTH DISTRICT
MIAMI (July 7th, 2023)–LV Lending, a leading private lender focused on bridge loans for commercial and residential investment properties and developments, has closed an $8.3 million loan for Congress Group’s acquisition of the Civica Center, a .85-acre multifamily development site located at 1050 NW 14th St. in Miami’s Health District. Congress Group, in partnership with Peakhill Equity TS, Inc., acquired the site from TCD 212 Civica FL Property LLC, a Delaware limited liability company, for $16 million. Closing for both the financing and acquisition took place on July 7th. “LV Lending is proud to have supported Congress Group’s successful acquisition of this prime real estate,” stated Camilo Niño, CEO of LV Lending. “We look forward to collaborating with them on future ventures and seeing their exciting new development take shape.” Congress Group has plans to transform the site into a 380-unit high-rise multifamily development. The land directly fronts the north side of the Dolphin Expressway and is a portion of a larger 1.82-acre tract that has been improved with a mixed-used retail and office building. LV Lending’s loan was used to finance the acquisition of the site while Congress Group completes the process to go vertical. A future advance has also been made available for the funding of additional pre-development costs. The Miami Health District is home to some of the largest and most renowned hospitals and research facilities in the United States, including the University of Miami Leonard M. Miller School of Medicine, Florida International University’s Herbert Wertheim College of Medicine, and Jackson Memorial Hospital. Boston-based Congress Group is a highly experienced real estate investment and development firm having successfully acquired, developed, re-positioned and/or entitled and managed over 7 million square feet of real estate, valued at over $1.5 billion. With over 30 years of experience, Congress Group has successfully completed numerous high-profile projects across the United States comprising multifamily, office, retail, and hospitality properties. Some of its notable South Florida projects include 999 Brickell, Bentley Bay in Miami Beach, and Soho Miami. For more information, call LV Lending at (305) 523-6576, email at [email protected] or visit www.lvlending.com.
MATTI HOMES USA INC. ACQUIRES 36 ACRES OF LAND IN VERO BEACH
VERO BEACH, FL (June 2023)–LV Lending, our lending affiliate focused on bridge loans for commercial and residential investment properties and developments, closes $2,171,500 in financing for the acquisition of four vacant parcels of land totaling 35.93 acres located at 2305 – 2505 90th Ave. in Vero Beach, FL. The loan was extended to Matti Homes USA Inc, who acquired the site for $3,343,000 from 60 AC Vero Beach, LLLP, a Florida limited partnership. Canadian real estate investment and development company Jaymor Group served as a consultant. Closing took place June 12th. The land is zoned for multifamily development and is situated at the northeast corner of 90th Ave. and 26th St. in unincorporated Indian River County, FL. LV Lending’s loan enabled Matti Homes USA Inc to finance the acquisition while they work to obtain the necessary approvals for vertical construction. The current zoning allows for the development of 238 buildable units, making it an attractive opportunity for multifamily development in the area. The site offers excellent connectivity and access to major transportation routes, including State Road 60, providing convenient east/west access to the town of Vero Beach and the west coast of Florida, and I-95, facilitating north/south access to Indian River County and the east coast of Florida. For further information on LV Lending, please contact (305) 523-6576 or email [email protected].
GRUPO SION ACQUIRES 9-ACRE FLAMINGO WATERPARK RESORT IN KISSIMEE FOR $20.5 MILLION
Private Lender LV Lending Closes $10 Million In Financing for Acquisition MIAMI (April 2023)– LV Lending, our lending affiliate focused on bridge loans for commercial and residential investment properties and developments, closes $10 million in financing for the acquisition of Flamingo Waterpark Resort, a 9-acre, 390,300-square-foot hotel and resort located at 2261 Irlo Bronson Memorial Highway in Kissimmee, FL. Padan Aram LLC, a subsidiary of Grupo Sion, acquired the 241-key hotel and resort property from Flamingo Hotel & Resort, LLC for $20.5 million. Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending provided the financing. Closing for both the financing and acquisition took place April 21st. This is the first U.S. acquisition for the firm and part of its expansion plans in the U.S. Originally built in 1966, the three-story family-friendly hotel and resort offers spacious family suites and character-themed children’s’ suites along with single accommodation for business travelers. Amenities include an outdoor pool with tiki bar and courtyard, business center, meeting rooms, market, restaurant, arcade, kid zone and playgrounds. A state-of-the-art water park adds to the fun with a 30-foot tower water slide, three additional water slides, lazy river, splash pad, lounge pool, and heated spa. The property is situated along the U.S. 192, also known as E. Irlo Bronson Memorial Highway, at a junction with Florida’s Turnpike and just east of downtown Kissimmee in Osceola County. Flamingo Waterpark Resort is located less than two miles from Osceola Heritage Park which includes Silver Spurs Arena, home to the Silver Spurs Rodeo, Kissimmee Convention Center, Kissimmee County Stadium and the Osceola County Fairgrounds. The resort is conveniently located approximately 12 miles from Walt Disney World Resort area and less than 15 miles from the Universal Resort area. For more information, call LV Lending at (305) 523-6576, email at [email protected] or visit www.lvlending.com.
LV LENDING CLOSES $13 MILLION REFINANCING FOR WATERFRONT MULTIFAMILY DEVELOPMENT SITE IN WEST PALM BEACH
MIAMI (March 2023)– LV Lending, our lending affiliate focused on bridge loans for commercial and residential investment properties and developments, closes $13 million in refinancing for a 1.2-acre waterfront multifamily development site located at 4708-4714 N. Flagler Dr. in West Palm Beach, FL. BGI Companies, led by Kenneth A. Baboun, is developing the site into Alba Palm Beach, a luxury 21-story, 55-unit project featuring a limited collection of modern condominiums, townhome residences and marina. The project broke ground in October 2023 and is expected to be completed in Q4 2025. The project is currently more than 25% sold. With direct Intracoastal frontage and a private dock with boat slips reserved for residents, Alba Palm Beach, is a boat-owner’s dream residence. Located on North Flagler Drive in West Palm Beach, the new complex will house 55 residences spread across 22 floors, plus four two- and three-floor townhouses, with private elevators and vestibules further adding to the intimate and private feel of the space. In addition to the waterfront amenities, more than 25,000 square feet of Alba Palm Beach is dedicated to even more incredible features, including a sunrise pool overlooking the Intracoastal, a sunset pool for the warm afternoon sun, and dedicated grill and lounge areas. New members will also enjoy a one-year complimentary membership at the Palm Beach Yacht Club & Marina. West Palm Beach-based Spina O’Rourke + Partners have given the space a sleek and modern design, an aesthetic which carries into the interiors. Options range from 2- and 3-bedroom layouts to 4-bedroom townhomes, and all residences feature water views. Pricing starts at just under $3 million. Alba is located directly on the Intracoastal Waterway, just moments from the beaches, Worth Avenue, Atlantic Ocean and all of the highlights of West Palm Beach.
THE JAYMOR GROUP COMPLETES ASSEMBLAGE FOR 11-ACRE MASTER-PLANNED DAYTONA GATEWAY MARINA DEVELOPMENT
LV Lending Provides $13 Million in Financing MIAMI (March 2023)– LV Lending, our lending affiliate focused on bridge loans for commercial and residential investment properties and developments, closes $13.05 million in financing for the acquisition of five parcels of land totaling 6.7 acres on the north side of East International Speedway Boulevard and west of Halifax Avenue in Daytona Beach, FL. The Jaymor Group acquired the properties which represents the completion of its assemblage for 11.3-acre waterfront Daytona Gateway Marina mixed-use project at 135 E. International Speedway Blvd. The loan was facilitated by Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending on behalf of the borrower, Monarch of Orlando Ltd, an affiliate of The Jaymor Group. In addition to the acquisition, the loan will go towards construction of Phases one and two of the project. The Canadian-based development firm is currently under construction on Phase 1 of the master-planned mixed-use Daytona Gateway Marina, featuring a state-of-the-art, full-service, 138-slip marina designed to accommodate vessels ranging from 40 to 150 feet and a dry storage for 250 boats. Other phases of the development will include a mixed-use tower with 550 Class-A apartment residences and a boutique hotel. Complementing the development will be retail and restaurant spaces, structured parking garage and a waterfront activity plaza with green space. This is the second loan LV Lending has provided for this project. In August 2021, our company provided $19 million for the refinancing of the 11.3-acre site along with pre-development costs and construction of the marina. For more information, call LV Lending at (305) 523-6576, email at [email protected] or visit www.lvlending.com.
