Lynd alive come to Miami World Centerone of the largest private development projects in the country.
The San Antonio-based developer paid $30 million for a half-acre site on North Miami Avenue between Northwest Ninth and Northwest 10th streets, property records show.
Lynd secured a $22.75 million acquisition loan from TIG Romspen US Master Mortgagenegotiated by Concord Summit Capitalit is Kevin O’Grady, Daniel Bresnahan and Justin Nelis.
Seller, Mark Robertpopular co-owner E11even nightclub, sold about half of the package it bought for a total of $26.78 million two years ago, shortly before the first COVID-19 lockdowns.
Lynd plans to build a residential tower, CEO David Lynd says Commercial Observer. The executive declined to provide further details about the project.
Summit of Concord is now seeking financing for a construction loan, a brokerage representative said, but has not yet provided further details.
Lynd’s project is the latest proposed at Miami Worldcenter, a planned development covering 27 acres in downtown Miami.
The Associated groupMiami’s largest condominium developer, is building a residential tower for short-term rentals called Crosby. The Witkoff Group is in the early stages of develop 2,195 housing units. Earlier this year, ahead of announcing his new multi-family business this month, the former We work CEO Adam Neumann nabbed a $108 million build ready for a residential tower close to the one he already owns.
On the ultra-luxury side, Royal Palm Companies expands Heritage Hotel & Residencesa 50-storey condo tower for which he secured a $340 million construction loan Last year.
Julia Echikson can be contacted at [email protected].