Miami Mixed Use Project

This proposed eight-level structure has an approximate building area of 325,000 square feet to sit on 1.84 acres and accommodate room for 118, 1-4 bedroom apartments, a rooftop pool, 40,000 square feet of commercial areas, a fraternal organization, multi-function rooms, a foreign consulate (which has agreed to occupy upon completion), an atrium, and 236 parking spaces. A central element of the concept is the open courtyard, introducing natural light into the building's interior.

The plot sits on a canal and is undeveloped, eliminating the need for demolitions. It falls within Miami zoning (TE-6-8-L), and has access to major transportation corridors, utilities.

Designated construction company (locations in TX, TN, NJ) is a 20% sponsor: seeking $120 million for possible 50% return.

The organization is seeking one of two possible financing options or may be open to alternatives:
Option 1: A 48-month interest-only (I/O) loan, with the interest rate based on SOFR (Secured Overnight Financing Rate) plus an additional margin. This means the borrower pays only interest for four years, with the principal due at the end.
Option 2: A project equity stake, where the lender takes an ownership position in the project and does not receive payments until the project’s exit event (such as the sale of condominiums).

No upfront fees or brokers, please. Executed NDA required.