Miami’s once feverish residential condo market sales pace may be slowing down, but it’s opening up increased opportunities for the commercial real estate market. Foreign buyers have in the past set their sights on investing in South Florida’s always lucrative pre-construction residential condos, but they are now shifting their attention to income-producing commercial real estate properties. This shift in focus may be attributed to the economic uncertainties in Latin America plus the ever-growing availability of financing opportunities for foreign investors.
Commercial real estate assets have seen a significant jump in 2016 thanks to foreign investment. Per data provided by Real Capital Analytics, these individuals have accounted for more than $1.5 billion in Miami commercial real estate during the period of January to July. These numbers represent a healthy bump from $1.1 billion during the same period in 2015 and $420.2 million in 2014, also during the same period.
In recent company activity news, we successfully closed another deal last Friday for a $370,500 investment penthouse condo in the city of South Miami with a loan to value rate of 55%. Contact us today to learn more about our hard money lending opportunities.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.