FINANCED
Matthew Rieger's Housing Trust Group Secures $71M Construction Loan In Homestead
28050 Southwest 147th Avenue
Senior Housing
Financed 18 days ago
Summary
Loan
FLORIDA
Senior Housing
The senior housing asset at 28050 Southwest 147th Avenue in Homestead was the subject of a $71 million construction loan. The development, known as Naranja Grand II, is a 200-residence affordable apartment community in Southwest Miami-Dade County. The rents for this project will range from $425 to $1,878 per month, catering to income-qualifying residents. The construction is anticipated to be finished in Q3 2025.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $71,000,000
- Address: 28050 Southwest 147th Avenue
- Market: Homestead
The landlords behind the project are Matthew Rieger from Housing Trust Group (HTG) and Elite Equity Development, Inc. They are leading the construction of Naranja Grand II, a significant initiative aimed at providing affordable housing options in the region. The collaboration between these entities underscores their commitment to addressing the housing needs of the community.
Details
FINANCED
IMAGE: Matthew Rieger
DATE: 04/15/2024
ADDRESS: 28050 Southwest 147th Avenue
MARKET: Homestead
ASSET TYPE: Senior Housing
LANDLORD: Matthew Rieger - Housing Trust Group (HTG); Elite Equity Development, Inc.
LOAN AMOUNT: $71,000,000
LOAN TYPE: Construction
NOTE: Housing Trust Group (HTG) and Elite Equity Development, Inc. (EED) commenced construction on Naranja Grand II, a $71 million affordable apartment community in Southwest Miami-Dade County. The development, featuring 200 residences, aims to address the housing needs of income-qualifying residents, with rents ranging from $425 to $1,878 per month, and is expected to be completed in Q3 2025.View on map
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Address28050 Southwest 147th Avenue
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