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] Company Overview - Sunrise Realty Trust, Inc. is an institutional commercial real estate lender focusing on transitional CRE projects in the Southern United States, with an emphasis on near-term value creation [5] - TCG Real Estate is a group of affiliated CRE-focused debt funds, including Sunrise Realty Trust, providing flexible financing on transitional properties [6] - Dornin Investment Group is a fully integrated real estate investment firm specializing in distressed and opportunistic investments across various property types [7][8] Project Details - The mixed-use 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 25,244 square feet of medical office condos, with 37 of 39 units pre-sold, while the senior living tower has 163 units, with 36 units pre-leased [2][3] - On-site amenities for the senior living tower include a fitness center, pool, dining options, and various recreational facilities, catering to the unmet demand for medical care housing in Southern Florida [3] Investment Rationale - The investment is seen as an opportunity to leverage the expertise of a skilled operator and capitalize on robust pre-sales, with a focus on de-risking the transaction through thorough diligence and innovative structuring [4]
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