The property asset involved in this transaction is a development site located at Southwest 214th Street & Southwest 117th Court in the Goulds market. The site covers an area of 3.46 acres and is designated for the construction of affordable housing. The total loan amount secured for this project is $56,000,000, which will facilitate the development of Phase II of Southpointe Vista, a 208-unit affordable housing project in Miami-Dade. The overall development is valued at $122,000,000, with Phase I already nearly fully leased. The expected completion date for the entire project is set for Q3 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $56,000,000
• Loan Type: Construction
• Address: Southwest 214th Street & Southwest 117th Court
• Market: Goulds
• Landlord: W. Patrick McDowell - McDowell Housing Partners

The key individuals and companies involved in this transaction include W. Patrick McDowell, representing McDowell Housing Partners, who secured the financing for the project. The financing aims to support the next phase of the Southpointe Vista project, which is part of a larger initiative to provide affordable housing in the Goulds neighborhood of Miami-Dade.