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.