Multifamily construction project closed during challenging
NEW YORK, April. 30, 2020 – BayBridge Real Estate Capital, an affiliate of Berkowitz Pollack Brant Advisors + CPAs, today announced it brokered a $102 million construction transaction which closed this week.
Plantation-based developer Invesca will use the loan provided by New York-based Madison Realty Capital to complete Pixl, a virtual reality themed mixed-use project in Pompano Beach.
Jay Miller, managing director of BayBridge Real Estate Capital, commented, “We are thrilled to have completed this transaction at such a challenging time in our economy. We believe it will be one of the last big construction transactions until the economy bounces back.
“Our team worked closely with the developer to complete a create financing deal that met everyone’s goals.”
Jay Miller and Spencer Miller of BayBridge Real Estate Capital brokered the deal.
Planned for completion in early 2022, Pixl is located at 4400 S. Sunrise Blvd., and will include 330 loft-style apartments with smart-home features.
About BayBridge Real Estate Capital
The BayBridge Real Estate Capital team has a long history of bringing institutional capital to markets across the U.S.
An affiliate of Berkowitz Pollack Brant Advisors + CPAs, BayBridge helps businesses, developers and investors find the financing they need for a broad range of commercial real estate projects, including acquisitions, construction and value-add development.
The firm has offices in Miami, Ft. Lauderdale, Boca Raton, West Palm Beach and New York City.