$10,750,000 Refinance Secured for Multifamily Property in Miami, FL
May 4, 2026 Private Money
Deal Summary
Altamar Financial Group provided $10.75 million secured by a 24 unit multifamily building at 180 SW 9th Street and an adjacent land parcel in the Brickell West area, according to public records. Timothy D. Haskin signed as member for borrower Westpine Brickell LLC.
The 1964 building and companion parcel form a classic covered land position on the western edge of Brickell, where existing rents carry the hold while the district's development boundary pushes toward Little Havana.
It is the second significant private financing recorded on the SW 7th to 9th Street blocks this quarter, alongside a $50 million facility two blocks north, and together they sketch the outline of Brickell West's coming development cycle.
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Market Notes
Covered land is the most forgiving way to hold a development thesis, and the debt should match: enough proceeds to reward the land value, priced against income that actually exists. The private lenders that specialize in the structure understand the dual underwriting, and owners should resist letting either a pure income lender or a pure land lender define the deal, because both will misprice it.
Transaction Details
- Closing Date
- May 4, 2026
- Loan Amount
- $10,750,000
- Loan Type
- Private Money
- Loan Purpose
- Refinance
- Capital Type
- Senior Debt
- Asset Type
- Multifamily
- Source
- Public records
Property
- Property Name
- Brickell West Covered Land Play
- Address
- 180 & 160 SW 9th St
- City, State
- Miami, FL
- Market
- Miami / South Florida
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Transaction details are compiled from public announcements, press releases, industry reporting, or information submitted by parties to the transaction, and have not been independently verified by LoanList CRE. Terms shown may be approximate. Nothing on this page constitutes a quote, offer, or guarantee of financing terms. Full disclaimer.