Robert Talas Of Flatiron Realty Capital Provides $10 Million Construction Loan For Miami Beach Development Site

The transaction involves a development site in Miami Beach, which consists of six luxury townhouses and six condominiums. The total loan amount is $10,000,000, funded by Flatiron Realty Capital, allocated for construction purposes on a shovel-ready piece of land valued at $6.5 million. The project has an anticipated sellout value of $24 million, reflecting its potential in the market.

Summary of transaction details:

• Property Type: Development Site (6 Townhouses & 6 Condos)
• Transaction Amount: $10,000,000
• Lender: Robert Talas - Flatiron Realty Capital
• Loan Type: Construction
• Base Loan Amount: $3,000,000
• Development Budget: $10,000,000
• Sellout Value: $24,000,000

Robert Talas of Flatiron Realty Capital highlights the company's commitment to construction financing in coastal markets, exceeding their initial $250 million mandate in South Florida. They project an additional $300 million in loans over the next year, showcasing their strategy to fund high-potential assets with flexible financing structures.