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175 SW 7th Street, Suite 2205 Miami, FL 33130

Allapattah, FL

BGI Capital

Allapattah, FL

Loan Amount: $1.9MM
LTV: 55%
Estimated Property Value: $3,450,000
Client Name: Melrose Apartments Fractured Condo
Property Type: Multi-Family
Loan Type: Refi-cash out
Term: 10 yr

This 30-unit, five-story, multi-family mid-rise condominium property located in Allapattah, FL has a unit mix which includes (15) 558 square foot 1BR/1BA units and (15) 768 SF 2BR/2BA units. The units total 19,890 square feet of GLA and the total site area is 21,086 square feet, or 0.48 acres. BGI Capital helped facilitate this loan closing on June 2018.

Biltmore Parc Developer Scores Condo Inventory Loan For Unsold Units
Closed Transactions

Biltmore Parc developer scores condo inventory loan for unsold units

Coral Gables developer Alirio Torrealba closed on a condo inventory loan for unsold units at Biltmore Parc. Torrealba’s MG Developer secured a $7.75 million loan from BGI Capital, according to a press release. The financing comes as MG Developer hired One Sotheby’s International Realty to take over remaining sales of its Coral Gables developments, including 11 condos at Biltmore Parc. Fortune International Realty previously handled sales for MG Developer.
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