Driftwood Capital MV Real Estate Holdings Merrimac Ventures Secures $145 Million Construction Loan From Centennial Bank

The asset involved is a development site located at 114 Southwest North River Drive, Miami, FL. The project is initiated by Driftwood Capital, MV Real Estate Holdings, and Merrimac Ventures. The construction loan obtained from Centennial Bank amounts to $145 million for the Riverside Wharf, a hospitality and entertainment development projected to cost $350 million and span 200,000 square feet. The nine-story building will feature a 167-key Dream Hotel, restaurants, a nightclub, event space, and public waterfront access, with completion anticipated in fall 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $145,000,000
• Address: 114 Southwest North River Drive
• Market: Miami, FL
• Lender: Centennial Bank
• Landlord: Carlos Rodriguez, Jr. - Driftwood Capital
• Landlord: Alex Mantecon - MV Real Estate Holdings
• Landlord: Dev Motwani - Merrimac Ventures
• Loan Type: Construction

The key individuals involved in this transaction include Carlos Rodriguez, Jr. representing Driftwood Capital, Alex Mantecon representing MV Real Estate Holdings, and Dev Motwani representing Merrimac Ventures. These representatives have facilitated the securing of funds for the Riverside Wharf project, highlighting their roles in the development of this large-scale project on the Miami River.