Steve Moore Of The Vestcor Companies Secures $139.5M Loan For Ambar Station Development In Naranja

The asset involved in the transaction is a development site located at 27742–27860 South Dixie Highway in Naranja, covering an area of 7.83 acres. The construction loan for this project totals $139,500,000, which includes a primary loan of $117.5 million from Bank of New York Mellon, supplemented by $11 million loans from both Wells Fargo and Florida Housing Finance Corporation. The project will consist of 576 units of affordable and workforce housing, along with 8,300 square feet of retail space and 852 parking spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $139,500,000
• Address: 27742–27860 South Dixie Highway
• Market: Naranja
• Lender: Bank of New York Mellon, Wells Fargo, Florida Housing Finance Corporation
• Landlord: Steve Moore - The Vestcor Companies
• Loan Type: Construction

The individuals and companies involved in the transaction include Steve Moore, representing The Vestcor Companies as the landlord. Vestcor Companies have initiated the construction of the Ambar Station project following the acquisition of the aforementioned loans, focusing on providing affordable housing solutions in southern Miami-Dade.