Cymbal DLT Companies, a Miami-based real estate developer, has secured a $95 million loan from an undisclosed senior lender and Related Fund Management for Oasis Pointe Residences. The 2.4-acre 301-unit waterfront complex in Dania Beach opened eight months ago and is 97% leased.
Oasis Pointe is located at 150 South Bryan Road adjacent to Dania Pointe, which features shopping and dining options, commercial spaces, and a dual-branded hotel. Within 29 months of groundbreaking Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT while also distributing more than 130% return to equity investors.
Patrick Martin from Related Fund Management as well as Asi Cymbal Hector Torres Jacob Nunez Jake Fleischer from Cymbal DLT worked on the deal with Christian Uriarte of Torus Capital Group Gautham Atreya of Cymbal DLT Charles Han of Newmark brokering the loan John Hotte Krinzman Huss Lubetsky Feldman & Hotte providing legal counsel for Cybernaut DT respectively . This successful transaction allows developers keep their newly built community open for business .
