MIAMI–(BUSINESS WIRE)–Redwood National Properties, LLC, a real estate investment firm based out of Miami, Florida, led by Brian A. Sidman of BAS Holdings Investments, LLC, in a joint venture with David Burstyn of Winston Capital Partners, LLC, today announced that Sailboat TH Development, LLC (the “Company”) has acquired a 10 acre pad-ready site in Opa-Locka, Florida, (the “Property”) in an all-cash transaction. The Company plans to construct 112 4-bedroom/2.5 bathroom townhomes. The Property is located within an existing 59-unit townhome development called The Mirage at Sailboat Cove which was initially constructed in 2007.
The Property runs alongside Mitchell Lake and is strategically located in close proximity to Miami’s main transportation arteries and employment drivers. The Opa-Locka/North Miami Market is enjoying a significant influx of new residents and gentrification and as the urban core of Miami’s population grows, available housing is scarce for working class individuals, millennials, and young couples. The Property is located in an up and coming residential complex where residents can enjoy the tranquility of lakefront living and the security of a gated community. Upon completion of the development, the Property will become one of the most sought-after affordable housing communities in the area.
“The acquisition of the 10 acre pad-ready site was a rare opportunity to develop 112 units in a market that has high demand for affordable housing within a job growth oriented hub near the Amazon Mega Warehouse facility and minutes from major transportation corridors,” said Brian A. Sidman. “Our firm is actively seeking additional land opportunities in markets that have similar demographics and an abundant need for affordable housing.”
Andrew Kurnit, of DWNTWN Realty Advisors, assisted the Company to secure an approximate $19,000,000 construction loan from City National Bank of Florida.
Jeremy Ben-David, a partner at AXS Law Group, PLLC, represented the Company in its acquisition of the Property and the simultaneous closing of the construction loan from City National Bank of Florida.
About Redwood National Properties, LLC
Redwood National Properties is a wholly owned subsidiary of BAS Holdings Investments, LLC (“BAS”). BAS focuses on niche real estate transactions through the following multi-vertical platforms: parking investments, solar developments, qualified opportunity funds, and affordable housing developments. BAS Holdings brings years of experience as a principal and executive in the acquisition of real property, construction and real estate structures such as REITs, partnerships, Tenants In Common (TICs) and Delaware Statutory Trust (DST) offerings.
Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.