Cash-out refinance of two-acre lot on “Billionaire Bunker”
HACKENSACK, N.J., May 14, 2024 /PRNewswire/ — Indian Creek Village, Florida, a man-made island off the Miami coast also known as Billionaire Bunker, is among the most exclusive waterside locales in the United States. Surrounded by Biscayne Bay, Surfside, and Miami Beach, the village is a hub of luxury residences. As its nickname “Billionaire Bunker” suggests, the village is reportedly a landing spot for some of the nation’s most high-profile figures, including Amazon founder Jeff Bezos, Carl Icahn, Ivanka Trump, and famed quarterback Tom Brady. So when Silver Arch Capital Partners had a recent client that needed to refinance and cash-out on a beautiful parcel on Billionaire Bunker, they needed to act quickly.
“Given the village’s prime location and extremely limited availability, any kind of property there, including undeveloped land, is an ultra-rare and highly-coveted asset,” said Jeffrey Wolfer, President and CEO of Silver Arch Capital Partners.
The Hackensack, N.J.-based nationwide private lender has announced the closing of a $32.5 million loan on a 2-acre unimproved lot. Loan proceeds will be used to pay off debt and cash out for other investment opportunities.
According to Wolfer, the loan amount exceeds what the borrower paid for the property just six years ago, an especially impressive return on undeveloped land.
“Billionaire Bunker’s reputation precedes it — there are buyers from all over the world lining up for the chance to own this slice of paradise,” Wolfer said.
Wolfer said that land loans can be challenging, as no traditional lenders and few private lenders are willing to work on this deal type. However, the principals of Silver Arch Capital Partners have a successful track record of getting land loans and other complicated, multi-faceted real estate deals done.
“We are proud to say that we see wide-open highways where others see brick walls,” Wolfer said. “Borrowers know us because of our creative approach to complex deals and our proven track record with these deals.”
Drawing from various resources, Silver Arch Capital Partners targets loans from $1 million to $70 million with the flexibility and creativity to review projects of every type — multifamily, office, retail, industrial, hotel and land — and to offer funding for almost every purpose — land acquisitions, development, refinancing, restructurings, discounted payoffs, purchase of notes and property improvements. For more information about Silver Arch Capital Partners and to learn more about their business model, visit here.
About Silver Arch Capital Partners
Silver Arch Capital Partners is a leading nationwide private lender to the commercial real estate market, specializing in bridge loans to owners, investors and developers in need of funding outside the scope of traditional banks and lenders. Formed with the mission to assemble the most highly creative minds in real estate lending under a single banner, the firm recognizes the importance of access to capital in turbulent times. Its partners, who have closed over $2 billion in loans, have the knowledge and insight to guide a borrower through the entire loan process, from initial review through closing. For more information, visit www.SilverArchCP.com.
SOURCE Silver Arch Capital Partners
