The borrower requested a $5,000,000 loan to refinance a Condo property in Miami, Florida as well as pledging 6 other properties as collateral to the loan. The condo property is 6 beds and 9.5 baths at 11,661 sq/ft which also includes a 4 car garage and views of the ocean. The borrower plans to refinance as an exit to the loan
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
