In July of 2022, Emerald Creek Capital provided a $14,000,000 acquisition loan in the Brickell neighborhood of Miami, FL. The loan is secured by a five-story, 39-unit apartment building containing 28,369 square feet of net rentable area and a private parking garage. Plans to maximize the subject property’s 273,000 buildable square feet involve redeveloping it into a mixed-use tower containing 108 condominium units, 60 hotel rooms and 12,000 square feet of retail. Brickell is Miami’s main business district and a desirable residential neighborhood on the south shore of the Miami River. The area is dense with upscale high-rise office and apartment buildings, hotels, shopping centers, restaurants and a vibrant nightlife scene. The subject property is conveniently located near Interstate 95 and US Highway 1, and adjacent to a Metrorail station.
For more information, please contact:
Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com
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