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

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FINANCED
$12,500,000

Florida

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Development Site
Financed 01/08/2024
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FINANCED

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

258 Southwest 9th Avenue

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Development Site
Financed 01/08/2024
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

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

LENDER

Santiago Vanegas
9 deals$149.6M volume
LANDLORD

Details

FINANCED
IMAGE: Santiago Vanegas DATE: 01/08/2024 ADDRESS: 258 Southwest 9th Avenue MARKET: Miami ASSET TYPE: Development Site LENDER: Camilo Niño - Linkvest Capital (@LinkvestCapital) LANDLORD: Santiago Vanegas - Habitat Group (@HabitatGroupMiami) LOAN AMOUNT: $12,500,000 LOAN TYPE: Construction Loan NOTE: Linkvest Capital closed a $12.5 million construction loan for the second tower of Smart Brickell in Miami's Brickell neighborhood. The mixed-use development includes 50 luxury condos, 50 hotel units, and four commercial spaces, with the second tower set for delivery in Q4 2025, offering fully furnished residences, smart features, and resort-style amenities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,500,000.00

Monthly NOI$83,333.33
Monthly Debt Service$79,008.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00