Urban Network Capital Group Secures $24.5M Construction Loan For Miami Development Site | 1120, 1130 & 1136 Southwest Third Avenue | Rok Lending | Keegan Burger, David Larson | Development Site | Loan

Summary

Loan

FLORIDA

Development Site

42,750 sqft

A development site located at 1120, 1130 & 1136 Southwest Third Avenue in Miami has been involved in a recent transaction. The site spans approximately 14,250 square feet and has a buildable square footage (BSF) of 81,560. The transaction took place on December 20, 2023.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $24,500,000
Market: Miami
BSF: 81,560
SF: 14,250

The lender involved in this transaction is Rok Lending. The loan provided for this development project is a construction loan with a loan amount of $24,500,000. The loan terms specify a non-recourse acquisition and construction loan for a 111-unit condominium development. Keegan Burger and David Larson from Concord Summit Capital served as brokers in this deal, representing the lender.

The developer behind this project is Urban Network Capital Group (UNCG), led by Robert Thorne.

Players

All
4

Agents
2
Agencies
1
Lenders
1

Concord Summit Capital

Rok Lending

Details

Deal Summary

FINANCED

IMAGE: Keegan Burger & David Larson DATE: 12/20/2023 ADDRESS: 1120, 1130 & 1136 Southwest Third Avenue MARKET: Miami ASSET TYPE: Development Site ~ BSF: 81,560 ~ SF: 14,250 LENDER: Rok Lending BROKERS: Keegan Burger & David Larson (@DavidLarson015) - Concord Summit Capital DEVELOPER: Urban Network Capital Group (UNCG) - Robert Thorne LOAN AMOUNT: $24,500,000 LOAN TYPE: Construction Loan LOAN TERMS: Non-Recourse Acquisition and Construction Loan for 111-Unit Condominium Development

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Address1120, 1130 & 1136 Southwest Third Avenue

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