MIAMI, FL – Bayport Funding, a direct private bridge lender for real estate developers, has provided a $2MM loan to acquire and renovate two adjacent four-unit properties located in the North Beach area of Miami Beach, Florida. This financing will support the developer’s fix & hold strategy that capitalizes on the supply constrained Miami Beach rental market that continues to be one of the top performing rental markets in the country.
North Beach’s location between Biscayne Point and Stillwater, offers a unique blend of beachfront living and urban energy. The area is also undergoing an exciting renaissance, which includes the creation of a bustling new Town Center and the transformation of the Byron Carlyle Theater into a multi-institution artistic and cultural venue.
“Miami Beach continues to be a vibrant market for real estate investors, particularly in the multifamily sector,” said Marcia Kaufman, CEO, Bayport Funding. “These fix and hold loans provide our borrower with the means to capitalize on strong rental demand by adding two fully renovated multifamily properties to Miami’s growing housing stock. Bayport is proud to support this project and contribute to the ongoing success of the Miami market.”
North Beach is known for its dynamism, offering residents the opportunity to enjoy a relaxed beach lifestyle with easy access to retail and entertainment. Investors are also increasingly benefiting from the area’s potential for future development and strong rental market, in which Bayport continues to be a highly active participant.
For more information about Bayport Funding and its activities, visit www.BayportFunding.com
About Bayport Funding: Bayport Funding is a balance sheet lender that provides bridge financing to real estate investors for single family, multifamily, mixed-use, and ground-up construction projects. Bayport has originated more than $1.3 billion. The firm is dedicated to the real estate investor community that depends on immediate availability of capital for funding projects. Bayport Funding understands the real estate investor business model and will tailor a customized Smart Money Loan Program to meet each lender’s specific needs. Bayport Funding offers several types of loan structures for investors who fix and flip properties, providing an opportunity to achieve significant return on investments and revitalize neighborhoods. For more information about Bayport Funding, please visit www.bayportfunding.com.