Finvarb receives $ 14 million loan to Deerfield Beach Properties – Commercial Observer



Finvarb Group received a $ 14.2 million loan to purchase two properties in Deerfield Beach, Florida for $ 20 million.

Real estate investment company led by Ronnie Finwarb, acquired a 51,662 square foot office and retail building located between 233 as well as 249 Northeast 21st Avenue for $ 9.3 million at the end of June, according to the registry. The property was built in 1987 according to the records.

Across the road to 300 Northeast 21st Avenue, the company also bought 9,777 square feet JB on the beach the restaurant and its 41,679-square-foot parking lot back in March for $ 11 million, all in cash, according to property records and Apollo Bankwho provided the loan. The property was built in 2002, according to the records.

Both buildings are located on the shores of the Atlantic Ocean.

The group plans to build hotels on part of a mixed-use facility, Apollo said. Finvarb did not immediately respond to the comment.

The Finvarb Group, located on Bal Harbor Island, is a real estate investment company specializing in the construction of hotels. His portfolio includes South Florida Marriot hotels and Italian eateries. Morini in South Beach, Florida.


Source link