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Linkvest Capital has closed on a $34.3 million refinancing and pre-development bridge loan for Phase 2 of Nautico District, a 3.5-acre waterfront mixed-use development site with an operating marina at 400 SW 3rd Ave. in Fort Lauderdale. The loan funded $20.5 million at closing, with the remaining $13.8 million to be advanced upon completion of pre-development milestones.
The financing was originated by Camilo Niño, Ricardo Uribe and Alen Hernandez of Linkvest Capital on behalf of the borrower, Cymbal DLT Companies. Proceeds will be used to refinance existing debt and support pre-development activities for the site.
Approved plans for Phase 2 of Nautico District include 360 multifamily units, 200 luxury branded condominium residences, a 119-key boutique hotel, a 90-slip marina, and more than 30,000 square feet of retail and restaurant space.
The site’s marina currently generates approximately $950,000 in annual net operating income, providing cash flow that helps reduce risk during the pre-development period.
The financed site is part of the larger $1.5 billion Nautico District master plan, which spans 6.5 acres at 408 SW Fourth St. and 400 SW Third Ave. along the New River.
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