Private Equity Group Provides $1.3M Renovation Loan For Multifamily Property In Coral Gables With Borrowers Rep Jesse Spencer

A multifamily property located at 2190 SW 14th Terrace and 1114 Douglas Road in Coral Gables, Coral Way, was recently involved in a closed transaction. The loan for this property was provided by Private Equity Group - PEG Partners, with a loan amount of $1,300,000. The loan terms included a 12-month renovation loan with a full cash-out option.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,300,000
• Lender: Private Equity Group - PEG Partners
• Landlord: Frank Giuliano

Frank Giuliano, the landlord of the property, worked with Russell Nova, Alexander Nemirovskiy, and Jesse.D.Spencer from Plusgroup at Compass to facilitate the loan. Russell Nova and Alexander Nemirovskiy, representing CornerstoneCapitalOfNY, structured and underwrote the loan request. The loan was closed within 15 days from start to finish, with Cornerstone Capital's expertise in securing financing on commercial requests playing a crucial role. Jesse.D.Spencer, a broker and market leader specializing in commercial properties in Miami, was instrumental in the deal.

Key Individuals and Companies:

• Russel Nova - Principal, Phone: 917-559-1820, Email: [email protected]
• Alexander Nemirovskiy - Senior Credit Manager, Phone: 347-751-5232, Email: [email protected]
• Cornerstone Capital - Advisory firm with relationships with 50+ commercial lenders, providing in-house analysts, underwriters, and loan coordinators to secure financing.
• Jesse.D.Spencer - Broker and Market Leader in Miami, specializing in commercial properties.
• Plusgroup at Compass - Brokerage firm represented by Russell Nova, Alexander Nemirovskiy, and Jesse.D.Spencer.