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19755 Southwest 110th Court

Updated Oct 12, 2026

Max Cruz Of Pinnacle Housing Secures $68 Million Construction Loan For Caribbean Isles Development In Miami
FINANCEDDevelopment Site

Max Cruz Of Pinnacle Housing Secures $68 Million Construction Loan For Caribbean Isles Development In Miami

19755 Southwest 110th Court

$68,000,000

Units

142

Asset Type

Development Site

Closing

Jan 16, 2026

About this deal

AI

The development site located at 19755 Southwest 110th Court in Miami is the focus of a construction loan transaction. Pinnacle Housing has secured a loan amounting to $68 million, aimed at funding the construction of Caribbean Isles, a 142-unit affordable senior housing project set for completion in 2027.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $68,000,000
  • Lender: Bank of America, Chase Bank, and Miami-Dade County
  • Landlord: Max Cruz - Pinnacle Housing
  • Loan Type: Construction
  • Targeted Residents: Individuals aged 62 and older earning up to 60% of area median income

The transaction involves key participants, including Max Cruz, representing Pinnacle Housing as the landlord. The financing structure for the project is composed of tax credit equity, private loans, and public investments, highlighting a collaborative effort among various financial entities.

On the Map

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$68,000,000

Development Site

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Players

Louis Wolfson III

Pinnacle Group

Broker

$68M

vol

1 deal

Broker
Bank of America
Bank of AmericaLender

David O. Deutch

Pinnacle Group

Landlord

$201.1M

vol

4 deals

Landlord
Bilt advertisement

Perrine 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

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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