Ascendra Capital Secures JV Equity Loan For Ascend37 Luxury Condominium Development In Coral Gables

The transaction involves a development site located at 1715 Southwest 37th Avenue in Coral Gables, featuring a total buildable square footage of 180,747. The site is being developed into Ascend37, a luxury condominium project consisting of 120 units, situated in a prime location known for its strong demand for Class A residential properties.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not specified
• Address: 1715 Southwest 37th Avenue
• Market: Coral Gables
• Asset Type: Development Site ~ BSF: 180,747
• Landlord: Ascendra Capital
• Developer: Ascend37 & Ascendra Capital (as an affiliate of the developer)
• Loan Type: Equity
• Broksers: Isaac Filler, Steven Edelstein, Yossi Koschitzki & Jordan Gellman - Filler Capital

The deal was facilitated by Filler Capital, showcasing the collaboration between two long-time clients to create a joint venture equity arrangement. The project reflects a concerted effort in creative structuring, highlighting the teamwork involved in bringing the Ascend37 development to fruition.