Core Viewpoint - Sunrise Realty Trust, Inc. has committed 41.0 million bridge loan aimed at repaying an existing senior mortgage on a mixed-use property in Miami, which includes senior living, medical office, and retail components [1][4] Group 1: Investment Details - The bridge loan consists of 10.3 million from an affiliate of TCG Real Estate [1] - The property features a 4-story medical office building and a 10-story senior living tower, with significant pre-sales and leasing activity [2][3] - The medical office building includes 6,411 square feet of retail and 25,244 square feet of medical office condos, with 37 of 39 units pre-sold [2] - The senior living tower has 163 units across seven floors, with 36 units pre-leased [3] Group 2: Market Position and Demand - The property is located in a medical epicenter of Southern Florida, addressing significant unmet demand for medical care housing [3] - The investment is characterized by robust pre-sales and a specialized operator, indicating a strong potential for value creation [4] Group 3: Company Background - Sunrise Realty Trust, Inc. is an institutional commercial real estate lender focusing on transitional projects in the Southern United States [5] - TCG Real Estate is affiliated with Sunrise Realty Trust and provides flexible financing solutions for transitional commercial real estate properties [6] - Dornin Investment Group specializes in distressed and opportunistic investments, with a track record of over $725 million in non-performing loan investments [1][7][8]
Sunrise Realty Trust Inc. Originates $41.0 Million Bridge Loan for Dornin Investment Group on Mixed-Use Asset in One of South Florida's Medical Hubs