Updated Sep 11, 2026
Vertix Group Provides $20M Bridge Loan For Development Site In Coral Gables
1505 Ponce De Leon Boulevard
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Dec 2, 2022
About this deal
AI
A development site located at 1505 Ponce De Leon Boulevard in Coral Gables has secured a $20,000,000 bridge loan. The property, situated in an attractive market, is expected to undergo development in the near future.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 1505 Ponce De Leon Boulevard
- Market: Coral Gables
The bridge loan was provided by Vertix Group, represented by Albert Arisso and Frank Hermosa. The loan will provide the necessary financing for the development of the property, allowing for further progress in the Coral Gables market.
On the Map
$20,000,000
Development Site
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Players
Coral Gables Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93