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

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 The conversion is part of a growing trend in Miami-Dade to transform outdated suburban office parks into modern warehouse and logistics spaces.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.