Linkvest Capital closed on a $34.3 million refinancing and pre-development bridge loan for Phase 2 of Nautico District, a 3.5-acre waterfront mixed-use development site with an operating marina at 400 SW 3rd Ave. in Fort Lauderdale. The loan funded $20.5 million at closing, with the remaining $13.8 million to be funded upon completion of pre-development milestones. The financing was originated by Camilo Niño, Ricardo Uribe and Alen Hernandez of Linkvest Capital on behalf of the borrower, Cymbal DLT Companies. Proceeds will be used to refinance existing debt and fund pre-development activities for the site.
Approved plans for phase 2 of the Nautico District include 360 multifamily units, 200 luxury branded condominium residences, a 119-key boutique hotel, a 90-slip marina, and more than 30,000 square feet of retail and restaurant space.
The site’s marina generates approximately $950,000 in annual net operating income, which helps reduce risk during the pre-development period.
The financed site is part of the broader $1.5 billion Nautico District master plan on 6.5 acres at 408 S.W. Fourth St. and 400 S.W. Third Ave., along the New River.
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