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258 Southwest 9th Avenue

Linkvest Capital Closes $12.5M Construction Loan For Second Tower Of Smart Brickell
FINANCEDDevelopment Site

Linkvest Capital Closes $12.5M Construction Loan For Second Tower Of Smart Brickell

258 Southwest 9th Avenue

$12,500,000

Building Size

Asset Type

Development Site

Closing

Jan 8, 2024

AI

The second tower of Smart Brickell in Miami's Brickell neighborhood has secured a $12.5 million construction loan from Linkvest Capital. This mixed-use development, owned by Santiago Vanegas of the Habitat Group, encompasses 50 luxury condos, 50 hotel units, and four commercial spaces. The tower is scheduled to be completed in Q4 2025 and will offer fully furnished residences, smart features, and resort-style amenities.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $12,500,000
  • Lender: Camilo Niño - Linkvest Capital
  • Landlord: Santiago Vanegas - Habitat Group
  • Loan Type: Construction Loan

Camilo Niño of Linkvest Capital facilitated the $12.5 million construction loan for the second tower of Smart Brickell. Santiago Vanegas, representing the Habitat Group as the landlord, has overseen the development of this mixed-use project. This collaboration will bring unique residential, hospitality, and commercial spaces to Miami's thriving Brickell neighborhood.

Players

Linkvest Capital
Linkvest CapitalLender

Santiago Vanegas

Habitat Group

Landlord

$149.6M

vol

9 deals

Landlord

Miami Development Site Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.27%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93