Lionheart Strategic Management – GuruFocus.com
The financing will be used for the demolition of an existing condominium and the development of an ultra-luxury branded residential development in Edgewater.
MIAMI, May 26, 2022 /PRNewswire/ — Lionheart Strategic Management LLC (Lionheart), an SEC-registered investment adviser that was formed in 2017 as the asset management subsidiary of Fisher Brothers, today announced that it will provide a $45 million mezzanine loan to Two Roads Development, backed by a $105 million senior mortgage loan from OZK Bank. The financing will be used to finance the acquisition of an existing condominium in the Edgewater neighborhood Miami in preparation for the future development of an ultra-luxury branded residential development on the property.
Lionheart Strategic Management supports $150 million in funds to Two Roads Development for residential development in Miami
“This close signifies our bullish investment thesis in South Florida development and the Miami market in particular, said Andy KleinManaging Director and Co-Head of Investments at Lionheart Strategic Management. “We continually seek out high quality investment opportunities in growing markets, and this property’s irreplaceable waterfront views and proximity to Brickell, Downtown MiamiWynwood, the Design District and miami beach present an undeniably attractive value proposition for future redevelopment. We are delighted to partner with Bank OZK and Two Roads Development in this endeavor and look forward to all that this project will bring to the region. »
“Over the past decade, Two Roads Development has helped bring Miami Edgewater on the map as one of the city’s most demanded residential areas with successful luxury condominium developments including Biscayne Beach and Elysee. The plans for our newest development, which will feature signature architectural design by Bernardo Fort Brescia by Arquitectonica, include a mix of ultra-luxury condominiums and branded residences that will enhance Edgewater global call like Miami premier enclave for high-rise luxury living,” said developer Taylor Collinsmanaging partner of Two Roads Development. “We are delighted to partner with Lionheart and Bank OZK on this exciting new development.”
Two Roads Development plans to redevelop the 3.5-acre waterfront site of Biscayne 21, an existing 191-unit condominium building located at 2121 N. Bayshore Drive in the Edgewater downtown district Miamiin an ultra-luxury branded residential development.
Andy Klein, Robert Kamenecand Benjamin Eshiwani led the transaction for Lionheart Strategic Management.
About Lionheart Strategic Management LLC
Lionheart Strategic Management, LLC, an SEC-registered investment adviser that was established in 2017 as an asset management subsidiary of Fisher Brothers to manage investments for the firm’s individuals and on behalf of investors third parties seeking exposure to real estate strategies with a primary focus in major urban markets in the United States. For more information, please visit http://www.lionheartstrategic.com/
About the development of two roads
The development of two roads is a South Floridareal estate development company whose leaders have combined over 120 years of experience in developing, financing and marketing residential and commercial projects across United States. Over the years, Two Roads has set the standard for luxury development with properties offering the best locations, architecture, amenities and services in the industry. The company’s current residential portfolio includes Elysee Miami and Biscayne Beach, two luxury downtown condominiums Miami, Florida; Pendry Residences, a branded hotel condominium in Tampa, Florida; Forte, a luxury waterfront condominium of 41 residences in West Palm Beach, Florida; Tuscany Ranch, a master-planned 6,000-home active adult community in Citrus County, Florida; and Freeport Plantation, a planned mixed-use community in Freeport, Florida. Learn more about: www.tworoadsre.com.
About OZK Bank
Bank OZK (Nasdaq: OZK), through its Real Estate Specialties Group (RESG), provides financing for commercial real estate projects nationwide. RESG is considered a preeminent and market-leading construction lender, focused on senior secured financing for a variety of property types, including mixed-use, multi-family dwellings, condominiums, offices, hospitality, life sciences, industry and retail. In the five years ended December 31, 2021RESG was born approx. $35 billion in new construction loans for commercial real estate. For more information, visit www.ozk.com.
Media contacts for the development of Two Roads:
Schwartz Media Strategies
Allie Schwartz Scholarship, [email protected]
Paula Colberg, [email protected]
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SOURCE Lionheart Strategic Management, LLC