Prestige Builders Secures $20M Construction Loan For Apartment Complex In Hialeah Market

Prestige Builders' affiliate secured a $20 million construction loan for a 2.03-acre development site located at 1001 Southeast 11th Street in Hialeah. The project is situated near Hialeah Market Station Tri-Rail and aims to increase residential density near public transit. The approved plans include 114 apartments and retail space. Additionally, Prestige Builders has plans for a second apartment building near the station.

Summary of transaction details

• Property Type: Development Site
• Loan Amount: $20,000,000
• Loan Type: Construction Loan
• Lender: Amzak Capital Management - Michael Kazma
• Landlord: Prestige Builders - Alexander Ruiz

Prestige Builders, led by Alexander Ruiz, successfully secured the $20 million construction loan from Amzak Capital Management for their development project in Hialeah. Michael Kazma, representing Amzak Capital Management, played a crucial role as the lender's representative in the deal. The loan will enable Prestige Builders to proceed with their plans for the apartment complex and contribute to the city's goal of enhancing residential options near public transportation.