Michael Swerdlow And Oliver Gross Secure $63 Million Loan For Serenity Gardens In Miami Gardens

This development site spans 7.3 acres and is located at 18330 Northwest 12th Avenue in Miami Gardens, Florida. It is part of a project named Serenity Gardens, which will feature 153 units of affordable seniors housing. The total amount of financing secured for this construction project is $63 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $63,000,000
• Address: 18330 Northwest 12th Avenue
• Market: Miami Gardens, FL
• Lender: J.P. Morgan Chase & Santander Group (through Red Stone Equity Partners)
• Landlord: Michael Swerdlow - SG Holdings; Oliver Gross - New Urban Development
• Loan Type: Construction

Michael Swerdlow represents SG Holdings while Oliver Gross represents New Urban Development in this transaction. The financing will leverage low-income housing tax credit equity, and the project's completion is expected by late 2028.