Royal Palm Companies Secures $31 Million Loan From MG3 Group For Development Site In Aventura

A land loan of $31,000,000 was secured by Royal Palm Companies for a 13.9-acre site located at 21440 Biscayne Boulevard, Aventura. This site is intended for the development of Uptown Aventura, a major mixed-use project encompassing various features such as 975 residential units, 528 hotel rooms, and over 100,000 square feet of retail space.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $31,000,000
• Address: 21440 Biscayne Boulevard
• Market: Aventura
• Lender: Hernan Leonoff, Marcelo Saiegh & Gustavo Bogomolni - MG3 Group
• Landlord: Dan Kodsi - Royal Palm Companies
• Acres: 13.9

The deal involved significant players from both lending and development sectors. Hernan Leonoff, Marcelo Saiegh, and Gustavo Bogomolni, representing MG3 Group, facilitated the funding for the project, while Dan Kodsi from Royal Palm Companies oversaw the land acquisition for future development.