$12,697,000 Bridge Loan Secured for Land Property in Miami, FL
Jun 1, 2026 Bank
Deal Summary
City National Bank of Florida provided approximately $12.7 million secured by a development site at 3975 Little Avenue in Coconut Grove, according to public records. The financing follows the site's $6.3 million purchase recorded in January 2026, with Jose R. Mas signing as manager for borrower CMA Homes 3975 Little Ave LLC.
Proceeds roughly double the land basis are consistent with a land and construction facility for residential development. Coconut Grove's central village area has seen some of the strongest for sale residential values in Miami-Dade, supporting land prices and development margins that keep local banks comfortably in the financing mix.
Florida based banks remain the dominant construction lenders for infill residential development in the Grove, underwriting sponsors and submarkets they have known for decades.
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Market Notes
For established local sponsors, Florida's homegrown banks routinely beat national lenders on land and construction terms in their own backyard, where familiarity substitutes for the conservatism out of market lenders price in. The lesson runs both ways: out of state developers entering Miami should expect to pay a stranger premium until they have built local banking relationships.
Transaction Details
- Closing Date
- Jun 1, 2026
- Loan Amount
- $12,697,000
- Loan Type
- Bank
- Loan Purpose
- Bridge
- Capital Type
- Senior Debt
- Asset Type
- Land
- Source
- Public records
Property
- Property Name
- Coconut Grove Development Site
- Address
- 3975 Little Ave
- 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.