Miami-based Cymbal DLT Companies secured a $95 million loan from Kookmin Bank and Related Fund Management Related Fund Management for Oasis Pointe Residences. The 2.4-acre 301-unit waterfront complex in Dania Beach opened eight months ago and is 97-percent leased.
Oasis Pointe, at 150 South Bryan Road, is adjacent to Dania Pointe, a mixed-use development with premier shopping and dining, commercial spaces, and a dual-branded hotel. Within 29 months of Oasis Pointe’s groundbreaking, Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT and distributed more than a 130-percent return to equity investors.
Patrick Martin from Related, Will (Woosuk) Cha from Kookmin Bank, and Asi Cymbal, Hector Torres, Jacob Nunez, and Jake Fleischer from Cymbal DLT closed the deal.
Cymbal DLT’s private financier, Christian Uriarte, and Gautham Atreya of Cymbal DLT secured the loan. John Hotte of Krinzman Huss Lubetsky Feldman & Hotte was legal counsel for Cymbal DLT.
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