Special thanks to The Real Deal for featuring Location Ventures and our co-working project URBIN in their article titled “Developer snags $12M loan for co-working project in Coral Gables”.
From The Real Deal article:
Location Ventures snagged a $12 million construction loan for it’s Coral Gables co-working project.
Location Ventures secured the load from BGI Capital to renovate the ground floor of the 52,719-square-foot building into a new co-working concept known as Forum, according to a release. The building sits at 299 Alhambra Circle in the heart of Coral Gables business district near Miracle Mile. The bridge loan has a 24-month term.
The deal was brokered by Jason Shapiro of Miami-based Aztec Group.
The Coral Gables office building will be the first location for the co-working platform. It will include individual desks, offices, conference rooms and common areas available for monthly subscriptions. The renovations are expected to be completed within four to five months, according to a release.
Coconut Grove-based Location Ventures, led by Rishi Kapoor purchased the property for $12.5 million in 2018, records show.
Location Ventures also has plans for a $50 million c0-living project at 1234 to 1260 Washington Avenue in Miami Beach. The company is also planning to redevelop a four-story building and an adjacent commercial building at 3138 and 3120 Commodore Plaza in Coconut Grove. The project will be converted into co-working with a food and retail market.”
Location Ventures is an integrated real estate platform that provides comprehensive investment, development, management, marketing, and sales for residential and mixed-use properties in the South Florida market and beyond. What does that mean? We invest in one-of-a-kind living experiences that make the highest and best use of unique development locations.
The common thread woven through all of what we do is our relentless desire to help create one thing—the home of tomorrow. Thoughtfully designed, fully connected – inside and out.
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