2005 Transactions
Tremont Funds $4,200,000
Loan for Florida Biopharmaceutical Park
The Boston office of Tremont Realty Capital provided pre-development
leasehold financing for Poinciana Biopharmaceutical Park,
in the Liberty City area of Miami, Florida. When the project
is completed it will consist of approximately 2.0 million
square feet broken out as follows: 743,000 square feet of
office/academic space, 262,000 square feet of mixed-use
(residential & retail space) and two parking structures
comprising 961,000 square feet and contain a total of 2,236
parking spaces. The project is a joint venture effort between
the Sponsor and Miami-Dade County to revitalize a Federal
Empowerment Zone through the development of a biopharmaceutical
park in this area of South Florida.
The $4,200,000 loan was funded through a Tremont sponsored loan program. The 12-month, non-recourse
loan provided the developer the capital required to move
the project through the design and pre-construction stage
of the project. The first phase of vertical development
is expected to commence before year end.
For additional information on this transaction, please contact:
Richard Gallitto
Executive Director
Email: rgallitto@tremontcapital.com
Phone: 617.867.0700 x772
-copy.gif)
