Brora Capital is pleased to announce its participation in a $5,600,000 bridge loan secured by a full-floor residence at E11EVEN Hotel & Residences, the branded condo-hotel tower developed by Property Markets Group (PMG) in downtown Miami. The transaction was led by Todd Richardson, Ignacio Diaz, Jose Padua, and Ben Gluck of Brora Capital, in partnership with Maxim Capital Group and David Chillura.
Financing inside a branded condo-hotel carries a different set of considerations than a standard bridge loan, from the condo structure and rental program to a business plan that has to be evaluated on its own terms. This transaction reflects Brora Capital’s comfort taking on complexity that gives many lenders pause, applying the same underwriting discipline and hands-on approach the firm brings to every deal.
The closing also underscores Brora Capital’s growing network of institutional lending partners across South Florida, and its ability to structure and execute alongside other capital providers on transactions that require both flexibility and speed.