LV Lending recently closed an $8.3 million loan to finance Congress Group’s acquisition of the Civica Center, a .85-acre multifamily development site located in Miami’s Health District. In partnership with Peakhill Equity TS, Inc., Congress Group purchased the site from TCD 212 Civica FL Property LLC for $16 million. The loan was used to fund the acquisition and provides a future advance for pre-development costs associated with transforming it into a 380-unit high-rise multifamily development.
The land fronts Dolphin Expressway and is part of 1.82 acres that includes mixed use retail and office buildings; making it an ideal location for residential living in Miami’s Health District – home to some of America’s largest hospitals and research facilities..
This financing marks another successful transaction by LV Lending as they continue their commitment towards providing innovative solutions tailored specifically towards clients’ needs in real estate investments across South Florida
