A luxury 3-bedroom condo in Brickell requiring complete interior modern renovation and smart home integration.
LOAN AMOUNT
$1,150,000
Needed fast 10-day closing to beat out competing offers with 100% of the $220,000 renovation budget financed.
Adler Capital provided a $1,150,000 bridge facility covering 90% of purchase price plus 100% of construction draws.
The Outcome
Renovation completed in 5 months. Sold for $1,595,000, yielding a net profit of $210,000 for the sponsor.
Deal Highlights
LOAN AMOUNT
$1,150,000
PURCHASE PRICE
$1,030,000
RENOVATION BUDGET
$220,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$1,580,000
PROJECT DURATION
7 Months
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