Lionheart and Bank OZK provide $150 million in funding for residential development in Miami

Miami, FL Lionheart Strategic Management LLC (Lionheart), an SEC-registered investment advisor that was formed in 2017 as the asset management affiliate of Fisher Brothers, will be providing a $45 million mezzanine loan to Two Roads Development, backed by a $105 million senior mortgage loan from Bank OZK. The financing will be used to fund the acquisition of an existing condominium in preparation for the future development of a residential development on the property.

“This closing signifies our bullish investment thesis in South Florida development and the Miami market in particular,” said Andy Klein, managing director and co-head of Investments at Lionheart Strategic Management. “We are continuously seeking high-quality investment opportunities in growth markets, and this property’s irreplaceable waterfront views and proximity to Brickell, Downtown Miami, Wynwood, the Design District and Miami Beach present an undeniably attractive value proposition for future redevelopment. We are excited to partner with Bank OZK and Two Roads Development on this endeavor and look forward to all this project will bring to the area.”

“Over the last decade, Two Roads Development has helped put Miami’s Edgewater district on the map as one of the City’s most in-demand residential neighborhoods with successful luxury condominium developments including Biscayne Beach and Elysee. Plans for our newest development, which will feature a signature architectural design by Bernardo Fort-Brescia of Arquitectonica, include a mix of ultra-luxe condominiums and signature branded residences that will elevate Edgewater’s global appeal as Miami’s premier enclave for luxury high-rise living,” said developer Taylor Collins, managing partner of Two Roads Development. “We are pleased to partner with Lionheart and Bank OZK on this exciting new development.”

Two Roads Development plans to redevelop the 3.5-acre waterfront site of Biscayne 21, an existing 191-unit condo building located at 2121 N. Bayshore Dr., into a residential development.

Klein, Robert Kamenec, and Benjamin Eshiwani led the transaction for Lionheart Strategic Management.