Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
LV Lending Arranges $25M Loan for Acquisition, Predev of 51.6-Acre Site in Wellington
Miami, FL-based LV Lending has closed on $25 million in financing for the acquisition of three parcels of land totaling 51.6 acres on the west side of South State Road 7 in Wellington, FL. Lotis Wellington, LLC acquired the site for $13.5 million.
The financing was arranged by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, a private lender focused on bridge loans for commercial and residential investment properties and developments, as well as Sean Harrington of Aztec Group.
The acquired land is approved for the development of Lotis Wellington II, a master-planned mixed-use development featuring 136 townhomes, 102 single-family homes, 18,000 square feet of of retail space and 50,150 square feet of outdoor green space.
The assemblage adjacent to Lotis Wellington I, another master-planned, mixed-use project featuring 191 multifamily apartments, 23,810 square feet of retail, 17,203 square of professional office space, two signature restaurants, 40,000 square feet of medical office, early learning center and two senior living facilities.
LV Lending provided $24 million in refinancing for the first phase of Lotis Wellington in March 2022.
- ◦Development
- ◦Financing
