Updated May 12, 2025
Marcus Bartenstein & Rafael Aregger Of Empira Group Secures $32 Million Construction Loan In Miami
3025 Southwest 3rd Avenue
$32,000,000
Units
85
Asset Type
Development Site
Closing
Mar 25, 2025
About this deal
AI
The property asset involved is a development site located at 3025 Southwest 3rd Avenue in Miami. The asset is designated for the construction of ENSO, an 85-unit Class A multifamily project that is set to begin construction in April 2025 and aims for completion in 2027. The development will include upscale residences, rooftop amenities, and ground-floor retail space. The project is managed by Jaxi Builders as the general contractor and designed by Revuelta Architecture.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $32,000,000
- Lender: Abanca USA
- Landlord: Marcus Bartenstein & Rafael Aregger - Empira Group
- Broker: Daniel Matz - Newmark
- Loan Type: Construction
The key individuals involved in this transaction include Marcus Bartenstein and Rafael Aregger, who represent the landlord, Empira Group. Daniel Matz from Newmark acted as the broker that arranged the financing for this construction loan from Abanca USA.
On the Map
$32,000,000
Development Site
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Miami Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93