In April of 2022, Emerald Creek Capital provided a $13,300,000 acquisition loan in Miami Beach, FL. The loan is secured by an 8,896 square foot commercial condo unit 100% occupied and NNN-leased to CVS. The subject property features brand new built-to-suit construction and is split across two levels, with 7,551 square feet on the ground floor and 1,345 square feet on the mezzanine level. Located one block from the beach on Miami’s infamous Collins Avenue, the subject property benefits from a bustling, high traffic location ideal for grade-level retail. Miami Beach is a vibrant neighborhood and vacation destination offering an abundance of top-rated restaurants, nightlife and shopping among the many beachside hotels. The subject property is conveniently accessible by Route 195.
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