July 24, 2015
BlueGate Partners Arranges Financing For The Park At Kendall
BlueGate Partners, LLC (“BlueGate”) arranged a $40 million senior financing note with PNC Bank for The Park At Kendall a class “A” multi-family property in Miami, Miami-Dade County, FL (the “Property”). The Property is located at 16480 Southwest 137th Avenue, Miami, FL and contains 296 total units.
The Park at Kendall was developed and opened in 2014 and is currently 96 percent leased. The Property consists of 14 three-story residential buildings, one one-story residential building, a laundry facility, a management and leasing office, which houses a fitness center and maintenance office, as well as an outdoor swimming pool, grill area and game room. The Property includes a fully-secured, gated entrance with 76 garage space, 44 carport spaces and 463 on-site parking spaces.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.