Cash-out refinance of two-acre lot on
"Billionaire Bunker"
HACKENSACK, N.J., May 14, 2024
/PRNewswire/ -- Indian Creek Village,
Florida, a man-made island off the Miami coast also known as Billionaire
Bunker, is among the most exclusive waterside locales in
the United States. Surrounded by
Biscayne Bay, Surfside, and
Miami Beach, the village is a hub
of luxury residences. As its nickname "Billionaire Bunker"
suggests, the village is reportedly a landing spot for some of the
nation's most high-profile figures, including Amazon founder
Jeff Bezos, Carl Icahn, Ivanka
Trump, and famed quarterback Tom
Brady. So when Silver Arch Capital Partners had a recent
client that needed to refinance and cash-out on a beautiful parcel
on Billionaire Bunker, they needed to act quickly.
"Given the village's prime location and extremely limited
availability, any kind of property there, including undeveloped
land, is an ultra-rare and highly-coveted asset," said Jeffrey Wolfer, President and CEO of Silver Arch
Capital Partners.
The Hackensack, N.J.-based
nationwide private lender has announced the closing of a
$32.5 million loan on a 2-acre
unimproved lot. Loan proceeds will be used to pay off debt and cash
out for other investment opportunities.
According to Wolfer, the loan amount exceeds what the borrower
paid for the property just six years ago, an especially impressive
return on undeveloped land.
"Billionaire Bunker's reputation precedes it — there are buyers
from all over the world lining up for the chance to own this slice
of paradise," Wolfer said.
Wolfer said that land loans can be challenging, as no
traditional lenders and few private lenders are willing to work on
this deal type. However, the principals of Silver Arch Capital
Partners have a successful track record of getting land loans and
other complicated, multi-faceted real estate deals done.
"We are proud to say that we see wide-open highways where others
see brick walls," Wolfer said. "Borrowers know us because of our
creative approach to complex deals and our proven track record with
these deals."
Drawing from various resources, Silver Arch Capital Partners
targets loans from $1 million to
$70 million with the flexibility and
creativity to review projects of every type — multifamily, office,
retail, industrial, hotel and land — and to offer funding for
almost every purpose — land acquisitions, development, refinancing,
restructurings, discounted payoffs, purchase of notes and property
improvements. For more information about Silver Arch Capital
Partners and to learn more about their business model, visit
here.
About Silver Arch Capital Partners
Silver Arch Capital
Partners is a leading nationwide private lender to the commercial
real estate market, specializing in bridge loans to owners,
investors and developers in need of funding outside the scope of
traditional banks and lenders. Formed with the mission to assemble
the most highly creative minds in real estate lending under a
single banner, the firm recognizes the importance of access to
capital in turbulent times. Its partners, who have closed over
$2 billion in loans, have the
knowledge and insight to guide a borrower through the entire loan
process, from initial review through closing. For more information,
visit www.SilverArchCP.com.
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SOURCE Silver Arch Capital Partners