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Steve Poulos Of Bridge Industrial Secures $56.7M Construction Loan From Associated Bank For Doral Site

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FINANCED
$57,000,000

Florida

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Development Site
Financed 02/26/2026
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FINANCED

Steve Poulos Of Bridge Industrial Secures $56.7M Construction Loan From Associated Bank For Doral Site

7775 Northwest 48th Street

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Development Site
Financed 02/26/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The asset involved in this transaction is a 16-acre development site located at 7775 Northwest 48th Street in Doral. The site has a total building square footage of 268,702 and is undergoing redevelopment from a 1970s office complex into an industrial project. The conversion is part of a growing trend in Miami-Dade to transform outdated suburban office parks into modern warehouse and logistics spaces.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $57,000,000
  • Lender: Associated Bank
  • Landlord: Steve Poulos - Bridge Industrial
  • Loan Type: Construction
  • Acquisition Price: $45,500,000
  • Acquisition Year: 2024
  • Completion Target: Early 2027

Steve Poulos represents Bridge Industrial in this transaction. The construction loan secured from Associated Bank is specifically intended to fund the redevelopment of the property, which reflects the ongoing market shifts in the region.

Players

Associated Bank
Associated Bank
LENDER
Steve Poulos
Bridge Industrial
Steve Poulos
26 deals$2B volume
LANDLORD

Details

FINANCED
IMAGE: Steve Poulos DATE: 02/26/2026 ADDRESS: 7775 Northwest 48th Street MARKET: Doral ASSET TYPE: Development Site ~ BSF: 268,702 ~ ACRES: 16 LENDER: Associated Bank (@AssociatedBank) LANDLORD: Steve Poulos - Bridge Industrial LOAN AMOUNT: $57,000,000 LOAN TYPE: Construction NOTE: Bridge Industrial secured a $56.7 million construction loan from Associated Bank to fund its conversion of the 16-acre site at 7775 N.W. 48th St. in Doral from a 1970s office complex into the 268,702-square-foot Bridge Point Doral industrial project. The redevelopment, acquired for $45.5 million in 2024 and targeted for completion in early 2027, reflects the ongoing Miami-Dade trend of transforming aging suburban office parks into warehouse and logistics space.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$57,000,000.00

Monthly NOI$380,000.00
Monthly Debt Service$360,278.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00