FINANCEDLand
Rene Bello's BLDG Ventures Secures $5.5 Million Bridge Loan For Atelier Residences Miami
1265 Southwest 22nd Street
$5,500,000
Units
148
Asset Type
Land
Closing
Jun 30, 2026
About this deal
AI
The asset involved in the transaction is land located at 1265 Southwest 22nd Street, Miami. The project, known as Atelier Residences Miami, is a planned 148-unit short-term residences development situated along Miami’s Coral Way corridor, supported by a bridge loan of $5.5 million. The financing aims to facilitate the project's progression toward construction in a highly sought-after urban market characterized by strong residential demand.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $5,500,000
- Lender: City First Mortgage
- Landlord: Rene Bello - BLDG Ventures; Cagri Kanver
- Broker: Phil Carroll - Brickell Capital Advisors LLC
- Loan Type: Bridge
Key individuals in this transaction include Rene Bello, leading BLDG Ventures, which is advancing the Atelier Residences Miami project. Cagri Kanver also participates as a landlord in the deal. Phil Carroll, representing Brickell Capital Advisors LLC, acted as the broker to facilitate the loan provided by City First Mortgage, marking a significant milestone in the project's development.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93