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
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