Redwood Dev Co Secures $43.5 Million Refinance From Regions Bank For Westview South Multifamily

The asset involved is a multifamily property located at 11900 Northwest 19th Avenue in Miami. The property consists of 110 units and has a total square footage of 187,000. A refinance transaction was executed for a total loan amount of $43,500,000 with Regions Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $43,500,000
• Units: 110
• Square Footage: 187,000
• Lender: Regions Bank
• Landlord: David Burstyn & Brian Sidman - Redwood Dev Co
• Loan Type: Refinance
• Previous Owner: Lennar Homes
• Agency Debt Structure: $130,000,000

David Burstyn and Brian Sidman are representatives of Redwood Dev Co, successfully closing the loan with Regions Bank Capital Markets Group. They acquired the community from Lennar Homes in 2023 prior to this refinancing effort.