Elizabeth Gardens at Lauderhill LLC to Launch Renovation and Recertification Program
MIAMI (March 15, 2022)–LV Lending, a local private lender focused on bridge loans for commercial and residential investment properties and developments, today announced the closing of $19 million in financing for the acquisition of 154 condominium units at Circle One Condominium, a five-story mid-rise, 135,232-square-foot building located at 2601, and 2611 NW 56th Ave. in Lauderhill, FL.
Elizabeth Gardens at Lauderhill LLC acquired the portfolio from Florida’s Attainable Home Company, LLC for an undisclosed sum. Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending provided the financing. The transaction was arranged by Jesse Wright and Maddy McMillen from JLL Capital Markets and James Dockerty from Quartz Real Estate Advisors. Closing took place March 11th.
Originally built in 1980 and situated on a 5.6-acre site, Circle One Condominium offers a mix of one- and two- bedroom units averaging 826 square feet. The acquisition will give Elizabeth Gardens at Lauderhill LLC controlling interest in the condominium building. The credit facility includes funds for the comprehensive $4 million renovation program to the common areas and for the mandatory 40‐year recertification. Upon completion, the project will be renamed Elizabeth Gardens of Lauderhill.
Elizabeth Gardens at Lauderhill’s parent company, REO Asset Specialists, owns and operates a broad portfolio of assets from vacant land to medical office throughout Florida. The firm specializes in managing and stabilizing bank owned properties and sourcing off-market acquisitions. Led by Lisa Ramos and Lisette Nunez, the firm invests its own cash which represents the primary equity for their business. The principals are involved in a hands-on fashion at the site, which distinguishes them from groups that are more focused on financial engineering.
About LV Lending
LV Lending is a Miami-based private lender focused on bridge loans for commercial and residential investment properties and developments. The company has a current servicing portfolio of nearly $300 million and has overseen more than 550 transactions for $600 million in Florida and Georgia. Founded in 2015, LV Lending prides itself on its team’s approachability, fast closings and high level of transparency LV Lending is an affiliate of Linkvest Capital, Linkvest Properties, LV Development and Milenio. For more information on LV Lending, call (305) 523-6576, email at [email protected] or visit www.lvlending.com. NMLS # 1291885.