The property asset involved in this transaction is a development site located at 13650 Northeast 2nd Court in North Miami. The site spans 1.9 acres and is designated for a construction project to build an 80-unit apartment complex.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $16,500,000
• Lender: Guillermo Molina & Rogelio Villarreal - Ocean Bank
• Landlord: Daniel Abreu - Delmas North LLC
• Loan Type: Construction
• Completion Timeline: Approximately 18 months
• Architect: Cabrera Ramos Architects
• Market: North Miami
• Utilization of: Tax breaks from Florida's Live Local Act
• Project Type: Workforce housing with property tax incentives

The key individuals in this transaction include Guillermo Molina and Rogelio Villarreal, who represent Ocean Bank as the lender, while Daniel Abreu is associated with Delmas North LLC as the landlord. This collaboration marks a significant step towards developing workforce housing in the area.