Commercial loans are hot. Proof: BGI closes deals worth $90M in 90 days

Original Article: https://www.miamiherald.com/news/business/real-estate-news/article239363598.html

Investors from the Northeast and Latin America continue plugging their money into the Miami market as one private, Brickell-based real estate lending firm can attest. BGI Capital closed on $90 million in commercial bridge loans in the last 90 days of 2019, the firm said. Some 90% of the closings — valued at $80 million — occurred in Miami, with the rest in New York City, said co-managing partner Robert Barthelmess. Investors from the Northeast, Colombia, Mexico and Venezuela helped the firm exceed its lending goal of $80 million, he said. “It is a market that we feel comfortable about. Because of the situation in Latin America and tax changes, investors are coming to Miami from elsewhere,” Barthelmess said.
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