Le Lézard
Classified in: Business
Subjects: CON, FNC, RLE

Black River Partners Lends $21M in Hialeah Multifamily Developments


MIAMI, April 19, 2021 /PRNewswire/ -- Black River Partners has put together a loan syndicate of $21 million for Prestige Companies to build out three multifamily apartment complexes in Hialeah. Black River Partners is bringing a total of 180 new workforce units to the city, which is currently experiencing new heights of interest and activity. Once completed, the three projects are projected to have a value of $35-$40 million and will be significant to the growth in Hialeah.

The three projects will be: Champion's Lofts located by Hialeah Park Racing & Casino, Poe's Lofts in the burgeoning Amelia District, and Palm Ave Lofts, located in an opportunity zone within the city of Hialeah. Both Hialeah Park Racing & Casino and the Amelia District are currently seeing considerable changes that are opening the door to live-work-play lifestyles and encouraging younger generations to choose to stay in their hometown. Black River Partners have a proven track record lending in Hialeah and Prestige Companies continues to be the area's leading developer, spearheading redevelopments like the Amelia District.

"We have been working with Black River Partners for over a decade now and love their commitment to a long-term vision with meaningful projects," says Alexander Ruiz, COO of Prestige Companies.

"Drive around Hialeah and you'll see construction like you've never seen in this city. It's a new day with new promise," says Luis F. Arrizurieta of Black River Partners. "Seeing the Prestige team transform this former warehouse district ? it's like the early days of Wynwood."

"As an alternative to conventional banking, Black River has allowed many developers, including ourselves, to navigate through projects in a much quicker manner. The syndicate understands construction, rezoning and ultimately, value," comments Dennis Rodriguez, a partner at Prestige Companies.

For more information, please contact Creative Mindworks' Lizette Fernandez at [email protected] or (305) 785-6777.

Related Images

black-river-partners-logo.jpg
Black River Partners logo

SOURCE Black River Partners


These press releases may also interest you

at 00:37
StockGro Teams Up with Dubai Financial Market, Eyes UAE Debut with Enhanced Market Data Access
To boost financial literacy in the UAE, StockGro, India's largest stock market experiential learning platform, has partnered with Dubai Financial Market (DFM) to integrate a live data feed. This collaboration aims to enhance retail investor...

at 00:00
CapitaLand Investment launches research paper on 'Asia Pacific Data Centre Investment Strategies in the Age of Digitalisation'
CapitaLand Investment (CLI) has launched its latest research paper on investment strategies for Asia Pacific's (APAC) data centre (DC) industry as part of its 'Perspectives' research series.  Leveraging insights from CLI's expertise on the ground,...

4 jui 2024
Teck Announces Cash Tender Offers for up to US$1.25 Billion of Debt Securities
Teck Resources Limited ("Teck") today announced the commencement of six separate offers (the "Offers") to purchase for cash up to US$1,250,000,000 aggregate principal amount of its outstanding notes of the series listed in the table below...

4 jui 2024
A Closer Look at H1 2024 A-share ETF Market: Rise of Broad-based and High Dividend Yield ETFs
In the first half of 2024, the A-share ETF market scaled a new record high and the market size surpassed US$292 billion, with broad-based ETFs as the main driving force. According to Wind, the assets of broad-based ETFs doubled from US$83 billion in...

4 jui 2024
Bosera HashKey BTC and ETH ETFs Top Asian Markets
Yesterday, the Bosera HashKey Virtual Asset ETFs achieved a historic breakthrough, with their total assets under management (AUM) surpassing US$110 million for the first time. The Bosera HashKey Ether ETF (3009.HK) has maintained a stable position...

4 jui 2024
TIER IV hardware now available on Amazon, including C1 Camera, C2 Camera and GMSL2-USB3.0 Converter
TIER IV, the pioneering force behind the world's first open-source software for autonomous driving, is thrilled to announce that its C1 Camera, C2 Camera and GMSL2-USB3.0 Converter are now available on Amazon. This new sales channel complements the...

More news about Business...


News published on and distributed by: