HIALEAH, FL – Multifamily developer, the Estate Cos. has secured $29.5 million in construction financing for the multifamily conversion of a former Ramada Inn in Hialeah, FL.
Centennial Bank provided $22.5 million in construction financing and LV Lending provided a $7 million mezzanine loan. The financing closed on April 9th.
The closed hotel, located on a five-acre site at 1950 W. 49th St., will be transformed into a 251-unit, garden-style apartment community with 5,522 square feet of commercial space.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
