The property asset involved in this transaction is a newly completed 48-story condo tower located at 500 Alton Road in Miami Beach. This condo is part of a project known as Five Park, which is associated with a total sellout value of $1 billion. Approximately 90% of the units have been sold, including a notable penthouse priced at $21 million.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $103,200,000
• Lender: Marc Rowan - Apollo Global Management
• Landlord: David Martin - Terra
• Landlord: Russell Galbut - GFO Investments

This transaction involved David Martin of Terra and Russell Galbut of GFO Investments, who secured a $103.2 million inventory loan from Apollo Global Management. The developers are currently finalizing sales and working on fulfilling city-approved public infrastructure projects.