Webster Bank Provides $33.4M Land/Pre-Dev Loan For Edgewater Development Site

An acre of development site, located at 1775 Biscayne Blvd in Edgewater was recently involved in a closed property transaction. The property, measuring 1.08 acres, is owned by LCOR and was the subject of a loan transaction with Webster Bank. The loan amount for this land/pre-development loan was $33,442,659. The deal was facilitated by brokers Michael Stepniewski and Keith Kurland from Walker & Dunlop.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $33,442,659
• Address: 1775 Biscayne Blvd
• Market: Edgewater
• Landlord: LCOR
• Lender: Webster Bank
• Brokers: Michael Stepniewski & Keith Kurland - Walker & Dunlop

Anthony Tortora, Michael Stepniewski, Keith Kurland, and Anthony J. Barsanti were involved in the transaction, as shown in the accompanying image shared on Instagram. The loan provided by Webster Bank played a crucial role in the financing of this development site. The involvement of brokers Michael Stepniewski and Keith Kurland from Walker & Dunlop further facilitated the successful completion of the deal.