FINANCED
Privee Capital Secures $59M Construction Loan For Coral Gables Multifamily Complex
301 & 335 Madeira Avenue
Development Site
Financed 52 days ago
Summary
Loan
FLORIDA
Development Site
A development site spanning 1.45 acres with a buildable square footage of 301,597 was the subject of a recent transaction at 301 & 335 Madeira Avenue in Coral Gables.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $59,000,000
- Loan Type: Construction Loan
- Lender: City National Bank of Florida
- Landlord: Scott P. Alcus, Erwin & Issac Sredni - Privee Capital; Jacobo Azout - Elion
Privee Capital, led by executives and a managing partner at Elion, secured a $59 million construction loan from City National Bank of Florida for a nine-story multifamily complex in Coral Gables. The project, set to feature 144 units alongside amenities such as a pool and gym, is scheduled to commence construction in May, with a projected completion date of 2026.
Players
Details
FINANCED
IMAGE: Jacobo Azout
DATE: 03/18/2024
ADDRESS: 301 & 335 Madeira Avenue
MARKET: Coral Gables
ASSET TYPE: Development Site ~ BSF: 301,597 ~ ACRES: 1.45
LENDER: City National Bank of Florida (@CityNationalBankofFlorida)
LANDLORD: Scott P. Alcus, Erwin & Issac Sredni - Privee Capital; Jacobo Azout - Elion
LOAN AMOUNT: $59,000,000
LOAN TYPE: Construction Loan
NOTE: Privee Capital secured a $59 million construction loan from City National Bank of Florida for a nine-story multifamily complex near Downtown Coral Gables, featuring 144 units and amenities like a pool and gym. Construction, set to begin in May and finish in 2026, involves executives from Privee Capital and a managing partner at Elion.View on map
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Address301 & 335 Madeira Avenue
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