Foundry Commercial scores construction loan on Hialeah Gardens industrial complex

Wells Fargo provided the $26M loan for a pair of 150K sf warehouses

Miami /
Jun.June 22, 2020 09:45 AM
Foundry Commercial

Foundry Commercial 

Foundry Commercial scored a $26.3 million construction loan to build two industrial warehouses in Hialeah Gardens.

Wells Fargo provided the debt for the development at Northwest 146th Street and Northwest 107th Avenue.

Orlando-based Foundry recently secured approval from Miami-Dade County for the project. The warehouses will be 164,567 square feet and 147,684 square feet respectively.

It purchased the 18-acre site in October for $13.1 million.

The firm manages and leases more than 55 million square feet of space across the Southeast and Texas. In 2018, Foundry bought out its partner in an office complex in Sunrise, teaming up with American Realty Advisors on the $57.4 million deal, property records show.

Foundry and American Realty also partnered to buy the 823,000-square-foot Miami Free Zone industrial complex in Doral for about $85.5 million in 2017.


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