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Florida & Gulf Coast  + South Florida  + Finance  | 
Lotus Capital Partners has arranged $170 million in financing for the development of a residential project in Miami, FL.

Lotus Capital Arranges $170M Predev Package for Miami Residential Project

Lotus Capital Partners, LLC, has arranged and structured a $170-million recapitalization and predevelopment financing package for Newgard Development Group on a waterfront development site Miami’s Brickell neighborhood.

The site consists of 1.62 acres with over 400 feet of frontage along the Miami River. Upon completion, the project will consist of three a 362-unit, Lofty-branded residential condominium tower, which is largely under contract; a 422-unit multifamily tower and a to-be-announced announced branded residence building.

According to Lotus Capital Partners, the 3650-funded financing package combines structural features of both an acquisition and a construction loan and is designed to capitalize sales broker commissions, marketing and nearly half of all anticipated soft costs for the overall development.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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