One Hotel – Miami Beach, FL

We just closed a performing $585,000 bridge loan on a $917,000 condominium purchase at the One Hotel in
Miami Beach, FL. The loan was originated at 11% with a two year maturity and 64% of Loan to Value. The
borrower is an investor renting the property in this attractive building of Miami Beach connected to the One Hotel.
We are actively purchasing performing and non performing loans nationwide. Please run by us your latest
opportunities.
We just closed a non performing mortgage on a condominium hotel unit at the W hotel of Fort
Lauderdale, FL. The original Unpaid Principal Balance of the loan was $670,000 and the
loan already had a balance close to $710,000 with a default interest rate of 25%. The unit is a
two bedroom and 2 bath 1255 sqf that can be rented on short term. The property was valued at
about $1.3M.
To give an idea of the type of property, a similar unit is currently listed for $2.05M