The asset involved in the transaction is a piece of land located at 4000 South Ocean Drive, Fort Pierce, FL. The loan amount secured for construction is $28,250,000, which will facilitate the development of 23 beachfront homes on Hutchinson Island, Florida.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $28,250,000
• Lender: Seth Weissman & Jake Simpson - Urban Standard Capital
• Landlord: Bjarne Borg - Index Investment Group
• Brokers: Brian Flax, Scott Miller & Gabe Icikson - Meridian Capital Group
• Loan Type: Construction

The transaction was arranged by Meridian Capital Group’s brokers, Brian Flax, Gabe Icikson, and Scott Miller, who facilitated the lending process within an expedited 30-day timeline. The financing enables Index Investment Group to proceed with their development strategy effectively.