Cymbal DLT Companies, a Miami-based real estate developer, recently secured a $95 million loan from an undisclosed senior lender and Related Fund Management to fund the continued operation of 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, as well as a dual-branded hotel. Within 29 months of groundbreaking Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT while distributing more than 130% return on equity investments for investors involved with the project .
The deal was worked on by Patrick Martin from Related Fund Management; Asi Cymbal , Hector Torres , Jacob Nunez , Jake Fleischer from Cymbal DLT ; Christian Uriarte of Torus Capital Group ; Gautham Atreya also of Cymbal DLT; Charles Han representing Newmark; while John Hotte served as legal counsel for those affiliated with the development team at Krinzman Huss Lubetsky Feldman & Hotte .
