City National Bank Of Florida Provides $36M Construction Loan For Development Site In Homestead

The property asset involved in this transaction is a development site located at 27641 Southwest 145th Court in Homestead. The site spans 36.9 acres and is intended for the development of 176 townhouses.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $36,000,000
• Lender: City National Bank of Florida
• Landlord: Alberto Perez - AJP Ventures
• Landlord: Juan Carlos Mas - MasCap
• Loan Type: Construction

This transaction involves Poncecat Mandarin LLC, an entity led by Alberto J. Perez and Juan Carlos Mas, who are key figures in this deal. Lennar Corp. is noted to hold an option to purchase the homesites, indicating ongoing residential development activity in the surrounding region.