The transaction involves a development site located at 1133 Southwest 2nd Avenue in Miami, FL. The loan amount secured for this project is $1,000,000,000, intended to restart the stalled 791-unit Mercedes-Benz Miami condo project, which is valued at over $2 billion. The mixed-use development features the first Mercedes-Benz-branded residences along with associated commercial spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,000,000,000
• Lender: Byron Trott & Michael Dell - BDT & MSD Partners
• Landlord: Michael Stern - JDS Development Group
• Landlord: Jeff Soffer - Fontainebleau Development

Michael Stern is working to finalize a partnership with Fontainebleau Development, represented by Jeff Soffer, which will help resolve a foreclosure dispute and provide the necessary capital to allow construction on the project to resume. This partnership is crucial for recapitalizing the mixed-use tower and ensuring its completion.