A loan from BridgeInvest gives a landowner 18 months to sell or develop oceanfront parcels in Broward County and a 16-acre retail site in Palm Beach County.
January 22, 2014 at 11:30 PM
1 minute read
A $36.5 million loan from Miami-based commercial real estate lender BridgeInvest helped a South Florida landowner satisfy three mature loans.
The bridge loan provided short-term financing to pay off debts to Bank of America Corp., City National Bank of Florida and another private lender, buying the owner time to sell the portfolio of oceanfront residential and retail land in Broward and Palm Beach counties.
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