FinancePalmBeach Blog

MIAMI, FL — FinanceMiami has arranged $9,500,000 in financing secured by a 23,000 SF of modern office space/flex property in Wynwood, Miami, FL. The property is situated in a strategic location, within walking distance of state-of-the-art amenities and new developments.  “This deal (similar to others in today’s market) had its challenges due mainly to the volatility in the Debt Capital Market space and the value-add component/business plan; nonetheless, we kept all parties on board and were able to relay the Sponsor’s business plan appropriately, pointing back to the strong fundamentals...

MIAMI, FL — FinanceMiami has arranged $8,000,000 in acquisition financing for a pre-development land-multifamily acquisition in Fort Lauderdale, Florida. FinancePalmBeach also provided consulting services for the ground-up vertical component phase. The property includes 0.78 acres of covered land, which includes 24 units of multifamily and 7 boat slips, the vertical component will incorporate high-end residences, state-of-the-art retail & hospitality amenities, with 360- river and oceanfront views. “This is an excellent deal for our clients, Eduardo Pelaez, Managing Principal of...

FinanceMiami has arranged $17,000,000 in financing secured by a 100-unit condo property in Wynwood, Miami, Florida. “This deal was not without its difficulties,” said Emile Schachter, Associate at FinanceMiami. “The client’s experience and background combined with the strong real estate fundamentals helped us get this one on record with very competitive terms.” “Emile did an excellent job working with a lender who merged during the closing process with an out-of-state bank” added Doug Landry, Partner at FinanceMiami. “He took the lead a project manager, and rolled up his sleeves to get...

MIAMI, FL – FinancePalmBeach has arranged a cash-out refinance for a short-term rental property in North Miami Beach, FL.   “Our experience and knowledge in the STR financing space allowed us to complete this engagement in a timely and cost-effective manner for our client,” said Robert Perea, Capital Markets Advisor at FinanceMiami. “The property is performing very well and now accompanied by favorable debt, the asset is poised to garner a strong return for its...

MIAMI, FL - FinanceMiami has arranged $5,600,000 in financing secured by a 17-unit short term rental property in Sunny Isles, Florida. "This deal was not without its difficulties," said Emile Schachter, Associate at FinanceMiami. "A non-operating asset at the time of the engagement, we had to fight through a bank merger and 3rd party delays to get it closed. The client's experience and institutional background combined with strong real estate fundamentals helped us get this one on record with very competitive terms." "Richard Valdes entrusted us to deliver on this one of a kind property...

MIAMI, FL — FinanceMiami has arranged $4,550,000 in acquisition financing for a pre-development land acquisition in Kissimmee, Florida. The property includes 16.9 acres of unincorporated land, which will be developed into approximately 330 units of multifamily, with a retail & hospitality use on the site's frontage on Route 192. "This is an excellent deal for our clients, Circle Capital Partners" said Emile Schachter, Associate at FinanceMiami. "We are glad to have been able to arrange such competitive terms for raw land acquisition ahead of project permitting". "The ultimate project...

FinanceMiami leveraged long standing investor relationships to assist with the equity raise for Rilea Group. Fergal Woods and Doug Landry worked through this transaction. “We’re excited to see what the future holds for this project” said Fergal Woods. “Our client has an excellent track record developing Class A product in Miami, and the sky is the limit for what can be achieved with him and his teams’ vision and expertise. Thank you to Diego Ojeda for entrusting us to assist with this assignment”. “Mohawk at Wynwood was created to meet the demand of this new wave of Miami residents and...

With 2020 winding down, we in the real estate industry are gladly looking forward to 2021. Like any year, there will be challenges in 2021. One uncomfortable truth is that certain properties are likely going to see a decline in value if they have lost key tenants, have not been well maintained, or were hurt by COVID related delays and cost overruns. If these properties are over-leveraged, with loans that are in default or matured, a lender may be within their rights to ask for a loan paydown or demand repayment. A sponsor/developer/investor may not want to pony up the cash as they have...

There are few things more costly to a construction loan than time. Carrying costs, especially interest, can eat into the profit margin of a project. Construction loans are typically shorter term in nature as well, which means you can literally run out of time if the term matures while costs increase. Fortunately, FinanceBoston has years of experience in dealing with these situations. We have helped many clients restructure their “busted” construction loans by leveraging our deep lender relationships and intimate market knowledge to restructure the debt and proceed with the project. If the...