Vaster And Vertix Group Provide $30.5 Million Loan For Miami River Development Site

The property asset involved in this transaction is a development site located at 66 Southwest 6th Street, 625 Southwest 1st Avenue, and 99 Southwest 7th Street in Miami. The property was acquired for $50 million and the financing provided was a bridge loan amounting to $30.5 million, supported by Miami-based lenders Vaster and Vertix Group. This site spans one acre along the Miami River in the Brickell area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $50 million
• Loan Amount: $30.5 million
• Loan Type: Bridge
• Lender: Vaster
• Lender's Representatives: Frank Hermosa, Jose Godoy, Albert Arisso - Vertix Group
• Borrower: Jay Roberts

This transaction reflects the collaboration of multiple parties, including lenders Vaster and Vertix Group, who were instrumental in providing the necessary financing for the acquisition. The representatives from Vertix Group played a critical role in facilitating the loan arrangement for the borrower, Jay Roberts, ensuring the success of this development opportunity in a prime location.