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Concord Summit Capital Closes $12 Million Loan For Downtown Miami Development Site, Paving Way For 52-Story Tower With 545 Multifamily Units

Concord Summit Capital, LLC (“Concord Summit”) has arranged a $12 million bridge loan for an infill property in Downtown Miami. Managing Director Justin Neelis and Associate Keegan Burger of Concord Summit’s Miami office sourced and advised the loan. The bridge loan is intended to refinance the existing mortgage and provide predevelopment funds for the sponsor, Bluetrich Holdings, Inc (BHI). BHI plans to utilize these funds to realize its vision for the property, a 0.55-acre parking lot acquired in 2021 for $18 million. The site at 130 Southeast 1st Street benefits from the highest density zoning allowed, presenting a significant development opportunity.

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