LOAN
IMAGE: Frank Hermosa & Albert Arisso
DATE: 09/28/2021
ADDRESS: 2536 Countryside Blvd., 19321 US Hwy 19 North & 2455 East Sunrise Blvd.
MARKET: Clearwater & Fort Lauderdale
ASSET TYPE: Office ~ SF: 269,843
LENDER: Vertix Group – Albert Arisso & Frank Hermosa
LOAN AMOUNT: $24,000,000
LOAN TYPE: Refinance
#Miami #RealEstate #tradedmia #MIA #Clearwater #FortLauderdale #Office #VertixGroup #AlbertArisso #FrankHermosa
INSTAGRAM LINK: https://lnkd.in/dAgdqy3E
LOAN
IMAGE: Frank Hermosa & Albert Arisso
DATE: 09/02/2021
ADDRESS: 10305 N.W. 58th St.
MARKET: Doral
ASSET TYPE: Office ~ SF: 149,797
LENDER: Vertix Group – Albert Arisso & Frank Hermosa
LOAN AMOUNT: $18,250,000
LOAN TYPE: Refinance
#Miami #RealEstate #tradedmia #MIA #Doral #Office #VertixGroup #AlbertArisso #FrankHermosa
INSTAGRAM LINK: https://lnkd.in/dVyGTTQR
Vertix Group, a private lending firm specializing in commercial financing, recently sourced a $14.7 million loan with Stonehill Capital for two hotels located in Florida City: Home2Suites by Hilton at 77 NE 3rd Street and Tru by Hilton at 217 North Krome Avenue.
Vertix acquired a portfolio of notes from Ocean Bank in the first quarter of 2021, which included the assets of two hotels and two commercial office buildings. Working with the owners of the two hotels, who were impacted by the pandemic, Vertix was able to find a favorable lending solution.
“Our role is more than acquiring commercial notes, it involves helping clients by providing either financing or assisting them to find alternative loan options” states Albert Arisso, co-founder and Managing Partner of Vertix Group. “Because of our outstanding lender relationships, we are able to help borrowers successfully refinance their debt.”
Vertix Group, 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.
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.
Vertix Group announced today the acquisition of $15 million in commercial portfolio notes from Ocean Bank over the last 90 days.
“Acquiring commercial portfolio notes from financial institutions presents an excellent opportunity for us to expand our lending portfolio,” states Albert Arisso, co-founder and Managing Partner of Vertix Group. “Because of Vertix Group’s outstanding lender relationships, we are able to help borrowers find favorable solutions that are mutually beneficial.”
The commercial portfolio notes acquired from Ocean Bank include the assets of two hotels and two commercial office buildings in South Florida.
Vertix Group, 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. Together they created a complete commercial lending company, Vertix Group. It is looking to expand its commercial real estate loan portfolio and is actively reaching out to various financial institutions, including Ocean Bank.
“Ocean Bank reinstated our loan sale program in 2020. Thanks to our conservative underwriting practices, working with Vertix has facilitated our ability to sell troubled assets quickly as a win-win, without impairment to the Bank,” said Grizel Ferro, Senior Vice President and Head of Portfolio Credit Management and Legal Services of Ocean Bank.
“We are continuing to look for opportunities to acquire additional commercial portfolio notes,” says Frank Hermosa, Vertix Group’s co-founder and Director of Business Development. “What separates us from our competitors is that we provide fluid execution and strong underwriting capabilities as well as timely, flexible and efficient financing solutions across all commercial asset types. In addition, we can provide financing, consulting and restructuring to help borrowers find the right solution.”
