Robert Thorne Of Urban Network Capital Group Secures $30M Construction Loan For Visions At Brickell Station
1120 Southwest 3rd Avenue
$30,000,000
$2,105/SF
Building Size
14,250 SF
Asset Type
Development Site
Closing
Sep 23, 2025
AI
The asset involved in this transaction is a development site located at 1120 Southwest 3rd Avenue in the Miami market. The property spans a square footage of 14,250 and is part of a condominium-hotel project known as Visions at Brickell Station.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $30,000,000
- Loan Type: Construction
- Landlord: Robert Thorne - Urban Network Capital Group
- Market: Miami
- Asset Square Footage: 14,250
Robert Thorne, representing Urban Network Capital Group, secured a $30 million construction loan from Arixa Enhanced Income Fund. The project aims to offer 110 units, with prices starting at $500,000 and restrictions on owner stays limited to 30 days annually. Groundbreaking for this project commenced in May.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93