Developer Duo Lands $60M Financing for Coral Gables Condo Project
Ascendra Capital and BAM Development are teaming up on a 117-unit condominium venture in Coral Gables. Dwight Mortgage Trust was the lender of the $60 million construction loan.
The eight-story project will include a mix of one-, two-, and three-bedroom residences. Planned amenities include a pool, sauna, fitness center, resident lounge, co-working spaces, approximately 2,000 square feet of ground-floor retail, and assigned on-site parking.
Most residences at Seventeen Gables Residences are priced under $1 million.
The transaction was originated by David Scheer and Alex Izso and arranged by Isaac Filler, Steve Edelstein, and Yossi Koschitzki of Filler Capital, who brokered the loan.
Located at 17th Street and Douglas Road, the development offers walkable access to Miracle Mile and the heart of Coral Gables, while remaining less than a 20-minute drive from Brickell, Downtown Miami, and Miami International Airport.
Dwight Mortgage Trust is an affiliate of Dwight Capital.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout