Vizcaya Capital Secures $25.2 Million Construction Loan From City National Bank In Miami

The property asset involved in this transaction is a five-story boutique office building located at 2871 Oak Avenue in Coconut Grove, Miami. It is set to encompass a total of 32,596 square feet of office space. The construction loan for this development, amounting to $25,200,000, has been secured by Vizcaya Capital from City National Bank of Florida.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $25,200,000
• Address: 2871 Oak Avenue
• Market: Miami
• Landlord: Andy Gilon - Vizcaya Capital
• Lender: City National Bank of Florida
• Loan Type: Construction
• Square Footage: 32,596

Key individuals in this transaction include Andy Gilon, who represents Vizcaya Capital as the landlord. The construction loan will facilitate the establishment of office space not only for Vizcaya Capital’s own operations but also for potential tenants, featuring amenities such as a rooftop deck and terraces.