Gomez scores $24M construction loan for Fontainebleau apartments

133-unit, seven-story building will replace office complex on 2.2-acre site

Miami /
Oct.October 30, 2018 12:30 PM

Marlon Gomez, BridgeInvest’s Alex Horn and a rendering of the apartment building

UPDATED Oct. 30, 2:45 p.m.: A company tied to developer Marlon Gomez just scored a $24 million construction loan to build an apartment complex in the Fontainebleau area of Miami.

Fontaineparc, a company led by Gomez Development Group’s Gomez will use the loan to build a 133-unit building at 275 Fontainebleau Boulevard in western Miami-Dade County, records show.

Miami-based BridgeInvest is the lender. BridgeInvest partner Ian Glaser said construction is set to begin soon for the seven-story building. The property totals 2.2 acres and will be built at the site of a 33,478-square-foot office complex. Fontaineparc paid $5.65 million for the office complex in 2017, records show.

Glaser said the new apartments will total about 150,000 square feet. The contractor is Coral Springs-based Bluewater Builders and the project is designed by Caymares Martin.

Western Miami-Dade County is seeing more interest from developers due to its proximity to Miami International Airport and abundant Class A office properties in the Waterford at Blue Lagoon. It is also near Dolphin Mall which has also become a more sought out destination for residential developers. Last month, Rems Group revealed its plans for Residences at Dolphin Citi Center at 108th Avenue and 17th Street. It will be a 113-unit, eight-story condo building.

BridgeInvest is a private real estate lender focused on short-term financing for commercial and residential assets throughout the Southeast. The company closed on a speciality credit fund with $105 million in equity earlier this year.


Related Articles

arrow_forward_ios
From left: David Huke, Alex Karakhanian, and Abraham Hidary with 1601 North Miami Avenue (LoopNet, Hidrock Properties, LNDMRK Development)
Hidrock Properties partners with Alex Karakhanian on Miami A&E dev site
Hidrock Properties partners with Alex Karakhanian on Miami A&E dev site
Moderno Development managing partner Doron Broman and a rendering of Rivr Lofts (Cube 3, Moderno Development)
Moderno nabs $102M construction loan for Fort Lauderdale apartment tower
Moderno nabs $102M construction loan for Fort Lauderdale apartment tower
From left: Prestige Companies COO Alexander Ruiz, CEO Marty Caparros, and partner Dennis Rodriguez (Prestige Companies, Compass)
Prestige JV pays $15M for Salvation Army site in Hialeah, plans 112 rentals
Prestige JV pays $15M for Salvation Army site in Hialeah, plans 112 rentals
Conlon & Co's Sean Conlon with 206 Clematis Street (Loopnet, Conlon)
Sean Conlon pays $18M for historic apartment and retail building in downtown West Palm
Sean Conlon pays $18M for historic apartment and retail building in downtown West Palm
 Clearline Real Estate's Jenny Bernell with Block E at 1550 (Smith Aerials)
Ex-Kushner exec Jenny Bernell picks up A&E District development site in Miami for $20M
Ex-Kushner exec Jenny Bernell picks up A&E District development site in Miami for $20M
Dacar Management's Alberto Micha-Buzali with Residences and Shoppes (LinkedIn, Dacar Management)
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
David Barry, principal, Ironstate Development along with a rendering of the proposed eight-story building between Northeast 26th and 27th Streets in Wynwood (Ironstate, 5G Studio Collaborative)
Developer proposes Urby-branded apartments on former Art by God site in Wynwood
Developer proposes Urby-branded apartments on former Art by God site in Wynwood
the Church of God Evangelical at 12830 Northeast Sixth Avenue in North Miami with Daniel Jaramillo and Tomas Sinisterra of Strategic Properties based in Miami (Google Maps, LinkedIn)
Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...