FORT LAUDERDALE, Fla. (June 17 2024)–Linkvest Capital, through its lending affiliateLV Lending, a local private lender focused on bridge loans for commercial and residential investment properties and developments, today announced the closing of $24.5 million in construction financing for The Terraces, a luxury boutique 10-story, 22-unit condominium located at 527 Orton Ave. in the heart of historic Fort Lauderdale beach. Camilo Niño, Ricardo Uribe and Alen Hernandez of Linkvest Capital executed the transaction. AJ Felberbaum, Jay Miller and Spencer Miller of BayBridge Real Estate Capital arranged the financing on behalf of Key Biscayne-based developer, Latitude Group. Closing took place June 16, 2024.
Winmar Construction is the general contractor. Groundbreaking took place in mid-April and site work has begun.
“It was a pleasure to work with Latitude Group on this transaction and we congratulate them on this exciting milestone,” stated Camilo Niño, CEO, Linkvest Capital. “Securing a loan for new construction in today’s economic climate speaks to the confidence we have in their team and the excellence of this remarkable project. Our firm values building long-term partnerships, and we would welcome the opportunity to work with them again in the future.”
The Terraces Design and Amenities
Designed by renowned South Florida-based architecture firm GarciaStromberg, the move-in ready residences combine modern design and thoughtful amenities to provide the most luxurious living experience. The Terraces offers two- and three-bedroom plus den residences ranging from 1,775 to 2,700 square feet.
From the ground floor’s elegant lobby to a relaxation deck with resort-style pool and sunbeds, The Terraces offers an extraordinary lifestyle with 7,000 square feet of indoor and outdoor amenities. Residents will enjoy a fully equipped gym with lounge space, outdoor fitness and yoga terrace, two summer kitchens, dedicated guest parking, and bike station, ensuring residents experience unparalleled comfort and convenience in every aspect of their daily lives.
Designed to bring the outdoors in, units feature 10-foot ceilings, floor-to-ceiling impact glass windows, and expansive wraparound terraces with ocean views to the east and Intracoastal views to the west. Finishes include modern European kitchen cabinetry, Thermador and Bosch appliances, LED lighting throughout and smart thermostats.
Location and Proximity
Featuring a prime location in the heart of the North Beach area of Fort Lauderdale Beach, The Terraces is situated within walking distance to the pristine beach and Intracoastal Waterway. The project is a mere five minutes from the vibrant energy of Las Olas Boulevard with an abundance of boutique shopping and world-class dining destinations and just a mile from scenic Hugh Taylor Birch State Park and Las Olas Marina. Residents will appreciate being conveniently located ten minutes from downtown Fort Lauderdale, 15 minutes to Fort Lauderdale International Airport and in close proximity to the water taxi and Brightline train station.
Market and Sales
Pricing starts at $2 million. The project is 60 percent sold. Douglas Elliman is the exclusive sales agent. The Terraces offers a unique opportunity for those seeking a luxury lifestyle in one of Florida’s most desirable coastal areas. Backed by the solid foundation of Linkvest Capital’s construction loans expertise in Florida, this development is poised for continued success. For more information on The Terraces or to explore construction loan opportunities with Linkvest Capital, visit theterracesftl.com or linkvestcapital.com.
About Linkvest Capital
Linkvest Capital is a co-investment platform offering direct access to unique, low-risk investment opportunities across three distinct alternatives: (1) short-term commercial real estate loans, (2) equity in mixed-use developments, and (3) acquisitions and management of commercial, industrial and triple net assets in Florida and the Southeastern US. Linkvest was created by investors, to source and structure the best deals for investors. Over 15 years, Linkvest has invested and managed approximately $1.4 billion in alternative real estate investments with compelling risk-adjusted returns, attracting exceptional co-investors seeking capital preservation, cash flow and value investing strategies.
About Latitude Group
Latitude Group is a design, build and development group bringing beautiful spaces to the best places. Latitude Group’s philosophy is a balance of natural and urban design that delivers a lifestyle unlike any other. From site acquisition through project construction and sales and marketing, their unified approach and solid vision is what makes projects unique. It was founded by Carlos Lopez and Luis Estrada. They have invested in and worked on the development teams of marquee residential, commercial and mixed-use projects in South Florida over the past decade from Ocean Reef to Villa Valencia, and dozens more.
About BayBridge Real Estate Capital
Based in New York City and Miami, BayBridge Real Estate Capital is a capital markets advisory firm that specializes in structured finance transactions throughout the United States. As a trusted advisor, BayBridge has developed exceptional, long-standing relationships with institutional capital providers that invest up and down the capital stack and across all asset classes. Being part of a larger Miami-based financial services company, BayBridge also retains an exclusive network of family office and high net worth indiviudals that opportunistically invest alongside their clients. This transaction represents BayBridge Real Estate Capital’s best-in class capabilities to quickly and efficiently secure unique capital in a volatile capital markets environment. www.BayBridgeREC.com.
