Daniel Benarroch Of Alto Capital Provides $4.56M Bridge Loan For Miami Beach Condo Acquisition

A condominium located in Miami Beach was acquired with an estimated value of $6.5M. The asset encompasses a total area of 2,092 square feet. The bridge loan facilitated for this transaction amounted to $4,556,250, structured with a 15-month term and no prepayment penalty.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $4,556,250
• Lender: Daniel Benarroch - Alto Capital
• Loan Type: Bridge
• Loan Terms: 15 months
• Market: Miami Beach
• Estimated Market Value: $6.5M

Daniel Benarroch from Alto Capital structured the financing, emphasizing the importance of timely capital in competitive markets like Miami Beach. The bridge loan was critical in allowing investors to close swiftly and execute their acquisition strategy without the delays that a traditional bank approval would entail.