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Mag Mile Capital (MMCP) Closes Record $223.5M Bridge Loan for 636-Unit Fort Lauderdale Multifamily and Retail Development
Mag Mile Capital (MMCP) Closes Record $223.5M Bridge Loan for 636-Unit Fort Lauderdale Multifamily and Retail Development.
About this update from Mag Mile Capital Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Mag Mile Capital (MMCP) Closes Record $223.5M Bridge Loan for 636-Unit Fort Lauderdale Multifamily and Retail Development\r\n \r\n \r\n\r\n\r\nMag Mile Capital (MMCP) Closes Record $223.5M Bridge Loan for 636-Unit Fort Lauderdale Multifamily and Retail Development\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nFort Lauderdale, Florida--(Newsfile Corp. - March 10, 2026) - Mag Mile Capital, Inc. (OTCQB: MMCP), a commercial real estate capital markets and mortgage banking firm, announced the successful closing of a $223.5 million bridge loan for a major mixed-use multifamily and retail development in Fort Lauderdale, Florida, marking the largest single financing transaction in the company's history.\r\n\r\nClosing Tombstone\r\nTo view an enhanced version of this graphic, please visit:\r\nhttps://images.newsfilecorp.com/files/12080/287842_030326%20magm%20lauderdale.jpg\r\nThe financing involves a 636-unit mixed-use property featuring multifamily residences and 10 commercial retail suites, a transaction that underscores the firm's growing ability to structure large institutional financings as commercial real estate (CRE) lending activity accelerates nationwide. The milestone deal further highlights Mag Mile Capital's expanding presence in the U.S. commercial real estate capital markets.\r\nThe financing was completed in less than 30 days, highlighting Mag Mile Capital's ability to structure and execute large-scale commercial real estate financing transactions for institutional-quality assets across the United States.\r\nThe Fort Lauderdale mixed-use property consists of 636 luxury apartment units and 10 commercial retail suites, positioning the asset within one of the fastest-growing multifamily housing and mixed-use real estate markets in South Florida.\r\nThe loan was arranged on behalf of a New York-based debt fund that structured the financing with the project's developer and sponsor. Proceeds from the $223.5 million bridge loan were used to retire the initial construction loan, fund interest reserves, and cover closing costs, while positioning the property for continued stabilization and long-term performance.\r\nStrategic Bridge Financing for High-Growth Market\r\nThe financing structure includes floating-rate bridge loan terms with leverage at 76% loan-to-cost and 75% loan-to-stabilized va...