A property development company specializing in waterfront properties in Miami, Florida, approached Silver Oak Capital seeking assistance in purchasing a new residential building in the Brickell neighborhood. They required a long-term commercial mortgage at 70% loan to value (LTV).
The borrower had a successful track record in developing luxury waterfront properties in Miami. They targeted buildings with waterfront access or views that needed renovation or were undervalued. With a proven history of successful acquisitions, the borrower instilled confidence in potential lenders. They aimed to expedite the purchase with cash but needed
immediate access to a loan post-acquisition.
Primary challenges in this case included addressing potential environmental concerns related to waterfront properties, such as the need for sea-level rise mitigation measures or adherence to strict coastal development regulations. Additionally, ensuring stability against natural disasters like hurricanes posed a unique challenge requiring specialized risk assessment.
We presented a customized solution from a reputable Miami-based lender tailored to the client’s needs: