Albert Arisso & Frank Hermosa Of Vertix Group Provide $6,700,000 Construction Loan For Development Site In Miami
3370 Florida Avenue
$6,700,000
Building Size
—
Asset Type
Development Site
Closing
Jul 20, 2026
AI
The asset involved in this transaction is a development site located at 3370 Florida Avenue in Miami. It is designated for four luxury townhomes designed by Arquitectonica. This loan is categorized as a construction loan, with a total loan amount of $6,700,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Loan Type: Construction
- Lender: Albert Arisso & Frank Hermosa - Vertix Group
- Borrower: Alchemy Group & PEND (canopycoconutgrove.com)
- Date: 07/20/2026
Key individuals involved in the deal include lenders Albert Arisso and Frank Hermosa from Vertix Group, representing the financing aspect of the transaction. The borrowers, Alchemy Group and PEND, are responsible for the development plans associated with the property.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93