Gomez Development scores $45M loan to build Aventura medical building

Marlon Gomez’s firm purchased development site in October for $19M

Miami /
Dec.December 02, 2021 05:30 PM
Gomez Development scores $45M loan to build Aventura medical building

Rendering of the development site at 21291 Northeast 28th Avenue in Aventura and Gomez Development Group principal Marlon Gomez. (Gomez Development Group)

After closing on an Aventura site, developer Marlon Gomez’s firm secured a $45 million loan to build a medical office building on the property.

Miami-based Gomez Development Group plans to use the proceeds from the Parkview Financial loan to build a speculative 142,000-square-foot, seven-story project at 21291 Northeast 28th Avenue, according to a press release. The property is adjacent to Aventura Hospital and Medical Center.

A Gomez affiliate paid $19 million for the 1.63-acre site in October, according to records. The seller was Aventura Medical Center LLC, managed by Miguel Carlos Cadet, which retained an investment stake in the proposed project.

Gomez plans to break ground next year on the new building, which will also have a four-level parking garage with 346 spaces, the press release states. The developer plans to finish construction by the fourth quarter of 2022.

In a statement, Parkview Financial founder and CEO Paul Rahimian said his company provided the loan because it was a compelling financing opportunity on behalf of an “experienced local borrower.”

Gomez is currently co-developing a 425-unit multifamily building with ground-floor retail in Miami’s Spring Gardens neighborhood. Gomez and his partners Emir Dereli and Jason Susar paid $17 million for the 68,000-square-foot assemblage in 2019.

Gomez’s firm also built Fontaine Parc, a 133-unit, mid-rise apartment building in the Fontainebleau area of Miami.

Since launching a real estate debt fund in 2015, Parkview has executed more than $2.5 billion in financing for multifamily, retail, office, industrial and mixed-use projects, the release states.

The market fundamentals in and around Aventura continue to be solid, with growth from both residential and business standpoints, Rahimian added. Nearby, Rieber Development plans to build an assisted living facility with medical offices and retail, called 1212 Aventura. The developer just scored an $83.8 million construction loan for the project.

South Florida’s medical office buildings are in hot demand. In October, Forte Capital Management paid $11 million for a Hollywood medical office building adjacent to Memorial Regional Hospital South. The same month, Irvine, California-based IRA Capital picked up a single-story outpatient center in Boca Raton for $16 million.

In September, a two-story office building traded in a $17.2 million deal involving two affiliates of Montecito Medical Real Estate. And Healthcare Trust of America bought the 1905 Medical Center in Boca Raton for $50 million.





    Related Articles

    arrow_forward_ios
    1029, 1035 and 1043 94th Street in Bay Harbor Islands, FL (Google Maps)
    New York broker pays $8M for Bay Harbor Islands apartments
    New York broker pays $8M for Bay Harbor Islands apartments
    554 Lakeview Dr, Miami Beach and Jarett Fein (Zillow, KV National)
    Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
    Title insurance honcho pays $15M for restored waterfront Mid-Miami Beach house
    A photo illustration of Ocean House South Beach, 125 Ocean Drive (Condo.com, iStock)
    Ocean House South Beach closing tops weekly condo sales in Miami-Dade
    Ocean House South Beach closing tops weekly condo sales in Miami-Dade
    Midtown Capital Partners nabs West Palm business park for $37M
    Midtown Capital Partners nabs West Palm business park for $37M
    Midtown Capital Partners nabs West Palm business park for $37M
    Château Beach Residences at 17475 Collins Avenue (ORENA)
    Medical mogul pays $13M for Château Beach condo in Sunny Isles
    Medical mogul pays $13M for Château Beach condo in Sunny Isles
    Ofizzina office tower in Coral Gables (TSG)
    Lease roundup: Consulate General of Barbados, NY investment firm moving to Ofizzina in Coral Gables
    Lease roundup: Consulate General of Barbados, NY investment firm moving to Ofizzina in Coral Gables
    One Bal Harbour at 10295 Collins Avenue in Bal Harbour, FL (Seaside Properties Group, iStock/Illustration by Steven Dilakian for The Real Deal)
    One Bal Harbour associations settle suit over shared utility, valet expenses
    One Bal Harbour associations settle suit over shared utility, valet expenses
    Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
    Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
    Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
    arrow_forward_ios

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

    Loading...