01/28/2025
DWNTWN Realty Advisors Secures $21.5 Million Acquisition Loan for Miami Beach Redevelopment and Fort Lauderdale Development Sites
Miami Beach & Fort Lauderdale, FL (January 7, 2025) – DWNTWN Realty Advisors proudly announces the successful closing of a $21,500,000 acquisition loan for two prime South Florida properties, representing a significant milestone in the redevelopment and growth of these thriving markets. The transaction, brokered by Wilson Alers of DWNTWN Realty Advisors, showcases the firm’s expertise in structuring complex deals under tight deadlines. The loan, facilitated by Vertix Group’s Albert Arisso and Frank Hermosa, enables the acquisition of a mixed portfolio comprising office space and land, totaling approximately 106,154 square feet. The owners include Kash Patel, Bradley Williams, and Andrew Beachler, who are poised to capitalize on these strategically located properties.
Property Details:
• Miami Beach: Located at 1234 and 1260 Washington Avenue, the Miami Beach redevelopment project features a 19,500-square-foot vacant commercial building and an adjacent 23,250-square-foot lot. The vacant building will undergo redevelopment, while the adjacent site will initially serve as a parking lot to benefit the property and surrounding neighborhood.
• Fort Lauderdale: Positioned at 3100 Northeast 32nd Avenue and 3051 Northeast 33rd Avenue along the Intracoastal Waterway, the Fort Lauderdale property holds exceptional potential for a future mixed-use development.
Attorney James Govin of Hermann & Govin represented the Owners, ensuring a seamless transaction. The DWNTWN Realty Advisors team successfully negotiated the loan terms, obtained an executed letter of intent (LOI), and finalized the deal in under six weeks—meeting a firm deadline set by the seller.
“This deal demonstrates DWNTWN Realty Advisors’ commitment to delivering results for our clients under challenging timelines,” said Wilson Alers. “The Miami Beach and Fort Lauderdale markets offer unparalleled opportunities, and this transaction paves the way for transformative projects that will enhance both neighborhoods.
The properties will contribute to the vibrancy of their respective areas, with the Miami Beach site bolstering local infrastructure and the Fort Lauderdale site poised for dynamic waterfront development. The $21.5 million acquisition loan is a testament to DWNTWN Realty Advisors’ ability to navigate the complexities of South Florida’s competitive real estate landscape.