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S3 Capital finances Twenty Nine Indian Creek condo in Miami Beach
The eight-story project at 2901 Indian Creek Drive will include 16 units totaling 24,842 square feet, with 10 already sold, according to Commercial Observer.
Trinity Southern has bought a waterfront development site in Miami Beach and secured a $19.5 million construction loan for a boutique condo project, property records show, according to Commercial Observer.
The financing was provided by S3 Capital for the eight-story development called Twenty Nine Indian Creek at 2901 Indian Creek Drive in the Mid-Beach neighborhood near the Miami Beach Edition hotel.
As part of the transaction, the New York-based developer broke ground and purchased the 15,000-square-foot site for $8 million from JMH Development, which previously proposed the project.
Twenty Nine Indian Creek will have 16 units totaling 24,842 square feet of sellable space and includes a parking garage, and Commercial Observer reports that 10 units have been sold so far.