Wynwood

Assignment

A Miami-based developer engaged our firm to provide gap equity for a large land parcel in Wynwood. The funds were to be used for acquisition of the land, and to provide business plan capital to entitle the project, a 14-18 month timeline with significant execution risk.

Approach

FinanceMiami assisted in structuring the transaction, leveraging relationships with new equity sources in South Florida. Due to the short time frame allowed us (+/- 45 days) institutional equity sources were not the more reliable target equity provider, and so high net worth individuals and family officers were approached.

Results

We were able to assist the developer in his strategy of acquiring the land and obtaining approvals to develop by providing gap-equity funding into the joint venture. A wealthy individual provided the funding, establishing a new repeat relationship for future deals.