LV LENDING ARRANGES $3.3 MILLION REFINANCING FOR HALLANDALE BEACH SITE
Developer to Build 8-Story Medical Office Building
MIAMI (October 21, 2019)–LV Lending, a local private lender focused on residential and commercial investment properties, today announced the closing of $3.3 million in refinancing for a vacant 1.06-acre parcel of land adjacent to Gulfstream Park Racing and Casino at 400 SE 9th St. in Hallandale Beach. The refinancing was facilitated by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, on behalf of the borrower, Igor Sokolovskiy of IAL Property Investments, LLC. The closing took place on Oct. 10, 2019.
The owner plans to develop the site into an eight-story medical building totaling 168,700 square feet with 56,000 square feet of leasable space. The property was acquired in September 2017 for $6.45 million. Groundbreaking is slated within the next few months.
Throughout his career, developer Igor Sokolovskiy has secured partnerships with numerous medical providers. Besides, Mr. Sokolovskiy and his team have multiple award-winning eateries all over the world. Current major projects are in progress, comprising 15,000 square feet in New York, 10,000 square feet in Miami, and 18,000 square feet in Houston.
About LV Lending
LV Lending is a Miami-based private lender focused on investment purpose loans for the acquisition and development of residential, commercial, and land projects. The company has a current servicing portfolio of over $200 million and has overseen more than 500 transactions for $400 million in Florida and Georgia.
Founded in 2015, LV Lending prides itself on its team’s approachability, fast closings, and high level of transparency. The company offers personalized funding solutions for construction loans, refinancing, commercial property acquisitions, and bridge loans, among other mortgage loans and business investments.
About Bellavista Building Group
Bellavista Building Group and ARB Development are Maitland-based developers and builders focused on residential and commercial developments. For more information call 407-636-8900, email [email protected] visit www.bbg-fl.com. CBC060446