LV LENDING PROVIDES $4.6 MILLION TO REFINANCE REDEVELOPMENT SITE
ON MIAMI RIVER
MIAMI (March 2, 2020)– LV Lending, a local private lender focused on residential and commercial investment properties, announced the closing of $4.62 million in refinancing for a 1.75-acre residential site at 1515-1543 NW South River Dr. in Miami. The refinancing was facilitated by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, on behalf of the borrower, 1515 Miami River Development, L.P., led by Marlon Gomez, of Gomez Development Group. The closing took place Feb. 24th.
The property had been previously purchased in January 2014 for a combined total of approximately $3.87 million. The acquisition consisted of an assemblage of three sites on the Miami River, which currently houses four single-family homes with 14 boat slips. The site had received approvals for rezoning which allows for greater density. The developer now plans to turn this site into a modern 40-unit townhome project with new boat slips.
Marlon Gomez is an experienced South Florida builder/developer. He has been actively involved in many projects ranging from investment acquisitions, repositioning of existing properties to ground-up new projects. He most recently completed the development of a 133-unit, 232,500 square-foot Class A multifamily mid-rise project at 275 Fontainebleau Blvd. in Miami. FL. The project went vertical in January 2019 and was completed on time and under budget in January 2020 and is currently underway with leasing.
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.