LV Lending, a local private lender focused on bridge loans for commercial and residential investment properties and developments, announced the closing of approximately $5.73 million in financing for the acquisition of a 16.5-acre site located at Osceola Corporate Center, adjacent to the Tupperware SunRail train station in Orlando.
Blue Osceola Apartments, LLC, an affiliate of Miami-based Waterstone Capital, acquired the property from an undisclosed seller for $11.45 million. Financing was arranged by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending.
Closing took place on Nov. 5th.
Led by Mauricio Bello and the Waserstein family, Waterstone Capital is a real estate investment firm that owns and operates a growing portfolio of multifamily and retail properties as well as develops commercial and residential assets in a number of markets across the state of Florida. The firm has plans to develop a 448-unit transit-oriented multifamily development on the site. In addition to helping fund the site acquisition, LV Lending’s loan will also go towards obtaining the necessary approvals for the development.
“As we approach the end of the year, many sellers are pushing to close due to potential changes to federal tax regulations, and bridge loans provide a temporary solution for the buyer or sponsor of the asset while they are either stabilizing or waiting for the bank to complete its due diligence to finance it,” stated Camilo Niño, principal, LV Lending. “As a private lender, we are able to close on these loans quickly. Our team was pleased to assist Waterstone Capital on this transaction and we look forward to building a long-term partnership with their team.”
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