Blueteck Secures $18.25M Construction Loan From Banco Do Brasil For Hialeah Gardens Project

The asset involved in this transaction is a mixed-use property situated at 10850 Northwest 140th Street in Hialeah Gardens, covering an area of 4.23 acres. The property features a total of 91,468 square feet, designed to accommodate office, warehouse, and mezzanine space distributed across 10 commercial condo units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $18,250,000
• Loan Type: Construction
• Lender: Banco do Brasil
• Landlord: Josue Dimas De Melo Pimenta - Blueteck
• Previous Mortgage Amount: $3,000,000
• Increased Mortgage Amount: $15,250,000
• Acquisition Price for Site: $9,600,000
• Year of Site Acquisition: 2024

Blueteck, represented by Josue Dimas De Melo Pimenta, has secured a construction loan from Banco do Brasil to further develop its Flightway Nineteen flex industrial project. This funding represents a significant increase to the company’s prior mortgage, enabling the advancement of the property on the acquired site.