Bravo Bridge Fund closed over $100MM in financings
NEW YORK, April 20, 2022 (GLOBE NEWSWIRE) — Bravo ridge Fund closed over $100MM in financings during the past month. Featured among Bravo’s transactions are bridge loans for Osprey Landing, 1620 New York Avenue, and Casa De La Rosa. The bridge loans were closed through the firm’s proprietary bridge financing fund, Bravo Bridge Fund.
Bravo provided a $21MM bridge loan for Osprey Landing, a 108-unit apartment community located in the heart of dynamic Daytona Beach, Florida. Osprey Landing is conveniently located close to major beaches and has lakeside views. The property includes a 24/7 fitness center with strength and cardio equipment, and a sports court which includes basketball, grilling stations, and a gathering area. The property amenities also include a large pool and deck, a business center, an on-site dog park, and a resident clubhouse. Managing Principal Aaron Krawitz originated this transaction.
Bravo also financed a $23MM bridge loan for 1620 New York Avenue, a 54-unit apartment community located in Brooklyn, New York. This project is a new development, which is now in the lease-up phase, is located three blocks from Brooklyn College and the Flatbush Avenue subway station. It contains below-grade parking with 27 spaces along with amenities that include lounge area on every floor, fitness center, laundry room and roof deck.
Bravo then funded a $13MM bridge acquisition loan for Casa De La Rosa, a St. Petersburg, Florida apartment community with two buildings and 62 units. Amenities include a swimming pool, and a public barbecue area with outdoor grills. Interior upgrades include vinyl wood floors, stainless steel appliances, white cabinets with modern hardware, and upgraded countertops. The property is near St. Pete Beach, voted the #1 beach in America by TripAdvisor in 2021.
“We have been very excited by these stellar sponsors and high-end properties in terrific locations,” said Aaron Krawitz; “We are fortunate to have a deep bench of bridge and HUD specialists who are trusted by loyal clients and relied on for their expertise.”