Vertix Group, recently secured a $14.7 million loan with U.S. Century Bank for a project by Miami Springs Town Center LLC. The project is a joint venture between CIP Miami Springs and LV Lending. The deal closed in May 2021.
“Albert Arisso, co-founder and managing partner of Vertix Group, said they have been in negotiations with the Miami Springs Town Center group since mid-January.
“Despite being a new company, our experience and strong banking relationships were key in getting this deal approved and in position to break ground for the city of Miami Springs,” said Arisso.”
The developers purchased the 74,225 square feet site located at 1 Curtiss Parkway, Miami Springs in October 2018 for $4.65 million with plans for a mixed-used retail and residential development. The project was delayed by more than a year due to financing and the COVID-19 pandemic.
Vertix Group, a team with more than 50 years of combined banking experience, brought together Altamar Financial Group, LLC, a commercial bridge lender, and HAS Capital Group, commercial loan brokers, to create a comprehensive commercial lending company.
