Victor Quezada Secures $6 Million Bridge Loan From Benworth Capital For 12 Little Havana Properties

The transaction involves a loan secured against multiple multifamily properties located in Little Havana, specifically at Southwest 6th Street, Southwest 10th Street, 511 Southwest 7th Street, 1461 Southwest 5th Street, 923 Southwest 7th Street, 2910 Southwest 7th Street, 1500 Southwest 6th Street, 888 Southwest 6th Street, 627 Southwest 11th Avenue, 635 Southwest 6th Street, 1501 Southwest 6th Street, and 2200 Northwest 7th Street. The loan amount stands at $6,000,000 and is classified as a bridge loan. This financing is essential for the landlord to navigate a challenging foreclosure situation while maintaining control over the properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Lender: Benworth Capital
• Landlord: Victor Quezada
• Broker: Chris Funk - Metro 1 Commercial
• Loan Type: Bridge

Chris Funk was instrumental in engaging the borrower following an unexpected foreclosure. He assisted in strategizing for settlement negotiations and brought in Carlos Sarria to facilitate the bridge loan. Through effective collaboration, they successfully mitigated the risk of foreclosure litigation, enabling the client to concentrate on their core business of developing and rehabilitating accessible multifamily housing in Miami.