Sunrise Realty Trust Commits $13.0 Million in a Subordinate Loan for Excel Miami Apartments
Sunrise Realty Trust, Inc. (SUNS)
Last sunrise realty trust, inc. earnings: 2/20 04:01 pm
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Source: GlobeNewswire
WEST PALM BEACH, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $13.0 million to a $26.0 million subordinate loan for the development of the Excel Miami Apartments (“Excel” or the “Project”), a 24-story multifamily tower located at 1550 NE Miami Place in Miami’s Art & Entertainment District. An affiliated entity committed the remaining $13.0 million of the total loan amount. Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction. The Sponsor is Clearline Real Estate (“Clearline”), a real estate investment and development firm led by Jenny Bernell. Clearline is headquartered in New York and Miami and focuses on multifamily real estate investments across growing U.S. regions. Excel Miami Apartments is designed to blend modern living with the vibrant artistic culture of downtown Miami. The development was envisioned by
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News
- Sunrise Realty Trust Announces the Successful Closing of a Senior Revolving Credit Facility up to $200 Million with an Initial $50 Million Commitment from East West BankGlobeNewswire
- Sunrise Realty Trust, Inc. Announces Financial Results for Third Quarter 2024GlobeNewswire
- Sunrise Realty Trust Commits $30.0 Million in a Senior Loan for Sixth & Rio Condominium Development in Fort LauderdaleGlobeNewswire
- Sunrise Realty Trust, Inc. Schedules Third Quarter 2024 Earnings Conference Call for November 7, 2024GlobeNewswire
- Sunrise Realty Trust, Inc. (NASDAQ: SUNS) is now covered by analysts at Raymond James. They set an "outperform" rating and a $17.50 price target on the stock.MarketBeat
SUNS
Sec Filings
- 9/3/24 - Form 4
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- SUNS's page on the SEC website