$21 Million Construction Loan for Embassy Suites Development in St. Augustine

MIAMI, FL. --- Absolut Financial Resources arranged a $21 million construction loan for Key Beach North. The borrower acquired the oceanfront parcel of land in January 2014 and they are developing an Embassy Suites Hotel and replacing the existing debt on the land.

The 6.4 acres of is located near the historic city of St. Augustine, FL just south of Anastasia State Recreation Center. The ocean front property has significant frontage along the Atlantic Ocean measuring about 550 feet. The eight-story Embassy Suites resort will include 180 rooms with upscale resort amenities.

Absolut Financial Resources finances various types of commercial real estate. Based out of Miami, with over 26 years’ experience, AFR is known for experience and creativity in providing loans which meet their borrower’s requirements.

Absolut Financial Resources arranged the $21 million construction loan, which closed June 2015.

$2.8 Million Loan on Water-Front Property in North Miami

MIAMI --- Absolut Financial Resources arranged a $2.8 million loan to MidBay Properties LLC.  The borrower refinanced property to reduce rate and improve the property.
This water-front multifamily property includes 23,609 square feet and is situated on almost an acre. The two-story building includes 21 waterfront one-bedroom and two-bedroom units with balconies, and six street-side units. Amenities include parking spaces, a seawall, fishing and boating pier, pool, barbeque grilling area, covered patios, sunset balconies and on-site laundry facilities.

Absolut Financial Resources finances various types of commercial real estate. Based out of Miami, with over 27 years’ experience, AFR is known for experience and creative structuring in providing loans which meet their borrower’s requirements.

Absolut Financial Resources arranged the $2,800,000 loan at a very competitive interest rate, 10 year term, 25 year amortization.

$11.2 Million Construction Loan for Condo Development in Doral

MIAMI --- Absolut Financial Resources arranged an $11.2 million construction loan for Century Home Builders.  The borrower purchased 7 acres of land to develop a 135-unit condo development in Doral.

The community, Century Park West, is situated north of Doral with convenient access to major highways, retail and commercial areas. The condominium will consist of 135 units with eight different models ranging from 1088 square feet to 1600 square feet.  These luxury units will include a gated entrance with guard house, a swimming pool, clubhouse and gazebo, playground, reserved parking spots and ample guest parking, and surrounded by lush landscaping.

Absolut Financial Resources finances various types of commercial real estate. Based out of Miami, with over 27 years’ experience, AFR is known for experience and creativity in providing loans which meet their borrower’s requirements.