NEW YORK CITY-Pembrook Capital Management, LLC,an investment firm that originates commercial real estate debt tofinance multifamily, office, retail and industrial properties inhigh-barrier-to-entry urban markets, has completed several newdeals outside of its traditional New York City radius. The companyhas provided a total of $25.5 million in financing for four newproperties in Florida, Ohio, Maryland and California, whichPembrook CEO Stuart Boesky tells GlobeSt.com is ademonstration of the company’s flexibility and investment diversityacross the country.

“Roughly half of our portfolio is in New York, but we areobviously lending nationally,” he says, noting that sincePembrook’s origination in 2006, the firm has originated andacquired 44 investments with a total value of approximately $495million—and is growing.

In the largest of the four recent deals, Pembrook provideda $9 million first mortgage bridge loan for the acquisitionand renovation of 735 Collins Ave., a 14,000-square-foot retailproperty in Miami Beach. The site – the former home of the storiedLynmar Hotel – is located in the city’s high-street South Beach/ArtDeco district near primo retailers such as Kenneth Cole, Guess,Barney’s Co-op, Sephora, Armani Exchange and True Religion Jeans.The financing will go toward repositioning the asset whilepreserving its historic character, Boesky explains, noting thatMiami has become a target for international investment onceagain.