Miami Beach, Florida – Our Net Lease Funding information comes from the hot Miami Beach area. Commercial Mortgage Lenders are prepared to fund capital for prime Mixed-use property, triple net lease properties and large Apartment Building complexes. Commercial Mortgage Lenders have refinanced a $76 Million commercial loan in Miami Beach. A very unique property, 11 11 Lincoln Road received the commercial loan. The developer of the Mixed-Use property was able to sign for the commercial loan as a few banks were interested in this project. There was not news as if this original project was a 1031 Exchange.
This iconic commercial real estate development is situated on the highly desired corner of Alton and Lincoln Roads. This collateral for the commercial loan, a mixed-use property offers retail, a restaurant, residential and office space to lease. This was one of the largest commercial loan refinancing deals to take place in South Florida since the economic downturn. The Investment Property is approximately 400,079 square-feet and received a five-year commercial loan, used to pay off the original construction loan on the development.
The Developer of this project was Robert Wennett. Robert Wennett’s seven-story project, 1111 Lincoln Road was designed by the world-renowned architect Herzog & de Meuron. Some of the net leased retail tenants that are on the ground floor are Shake Shack, Nespresso, Taschen Books, Y-3, Mac Cosmetics, Italian-based Cascella and Coltori and the hot clothier Juicy Couture. Rosa Mexicano is also net leasing space in this property that was given the commercial loan. The high-end garage is often used for weddings and special events. There is a also a penthouse apartment for commercial real estate developer, Robert Wennett. The 11 11 Lincoln Road residences present Tenants with the balance of a peaceful retreat but still allowing immediate access to Lincoln Road’s urban energy and the hot beachfront.
The commercial real estate developer Robert Wennett was able to land the Pritzker-Prize winning architects Herzog & de Meuron to design 1111 Lincoln Road. Among this prize winning architects firm‘s most widely recognized projects are the transformation of a power plant into Tate Modern in London, and more recently the National Olympic Stadium in Beijing. Also they had the de Young Museum in San Francisco as a project that we believe is exquisite. Apparently, the architect of record is Miami-based Charles Benson & Associates.
If you are looking for a Net Lease Funding, CTL Financing, Mezzanine loan, or refinancing, we are dedicated to getting you the best rates. For all your commercial loan requirements, simply complete our easy, Commercial Loan Form and we will deliver you fast, accurate commercial loan quotes.
