By the Numbers
Project Highlights
- Location: 20700 NW 42nd Avenue, Miami Gardens, Florida
- Property structure: 20.08-acre development site approved for 221 townhomes
- Project status: Approved for townhome development
- Sales status: To be confirmed
- Borrower profile: BlueNest Development, with South Florida real estate experience
- Loan purpose: Purchase of a 20.08-acre land site
- Exit strategy: Construction loan
- Purchase price: $14,000,000
- Developer equity contribution: $9,000,000
- Estimated land value: $20,000,000+
- Closing date: December 2025
- Final deal status: To be confirmed
Deal Overview
The borrower needed financing to support the purchase of a development site approved for 221 townhomes. The total purchase price was $14,000,000, with the developer contributing $9,000,000 in equity.
The deal was supported by an estimated land value of more than $20,000,000 and a 35.7% LTV position. Based on the information provided, the developer is purchasing at approximately 37% below comparable purchase value.
The Challenge
This deal required a flexible private lending structure because of the larger loan amount, land acquisition component, and future development plan. The borrower needed financing that could support the purchase while preparing for the next stage of the project.
Sky 18 Capital's Solution
Sky 18 Capital structured the opportunity as an 18-month bridge loan. The deal was supported by conservative leverage, significant developer equity, approved permits, and a clear exit strategy through a construction loan.
Investment Thesis
This deal shows several strong lending factors:
- $5,000,000 ground-up construction financing opportunity
- Development site approved for townhome use
- 35.7% LTV collateral position
- 20.08-acre land site
- Approved 221-townhome development
- $9,000,000 developer equity contribution
- $20,000,000+ estimated land value
- Developer has South Florida real estate experience
- Exit strategy through a construction loan
- Final outcome: To be confirmed
The Result
The bridge loan structure gives the borrower a financing path for the land acquisition while preparing for the construction phase. This case highlights Sky 18 Capital's ability to review larger and more complex private lending opportunities in the $2M to $5M range.
Note: This case study is shared for illustrative purposes. Each project is reviewed on its own merits and final terms always depend on the property, borrower profile, documentation, market conditions and underwriting review.