EBSC Lending Closes $20M Luxury Rental Community Construction.
- Martin Alex
- Jan 21, 2025
- 3 min read
Updated: Jan 31
BAY HARBOR ISLANDS, FL — EBSC Lending has closed a $20 million construction loan to finance the development of a ground-up luxury rental community in Bay Harbor Islands, Florida. The project will deliver 110 luxury residences supported by five-star service and a comprehensive suite of amenities. Construction on the first building is expected to commence in June, with completion projected for Summer 2027, while the full master plan is anticipated to be completed by the end of 2028.
Transaction Overview
The financing was structured as a three-year floating-rate construction loan with one four-year extension option, providing flexibility throughout the multi-phase development timeline. The project is strategically located between the Bal Harbour Shops and Indian Creek, offering residents proximity to premier retail, dining, and coastal amenities in one of South Florida’s most sought-after residential enclaves.
The sponsor collaborated with EBSC Lending to establish a construction financing solution aligned with its long-term vision for high-end rental living. In connection with the transaction, the sponsor stated, “We are fortunate to collaborate with EBSC Lending on this new credit facility, and we appreciate their support. This construction loan reinforces our vision and confidence in EBSC Lending. The project will provide renters with high-quality residences, designed with the same elegance and style as our custom homes. We are dedicated to introducing buildings that enhance luxury rental living throughout Florida.”
EBSC Lending structured the loan to support efficient construction execution and ongoing cash-flow needs throughout the build. Commenting on the transaction, Martin Alex, principal and cofounder of EBSC Lending, remarked, “Understanding their needs allowed us to create a financing structure that will assist them in achieving their business goals. The sponsor is an experienced builder in Florida and a long-term client of EBSC Lending. We have a skilled in-house construction team that recognizes how crucial regular cash flow and a straightforward draw process are for expediting project completion. Our commitment to client satisfaction motivates us to provide outstanding service and quick funding for construction draws, ensuring seamless and stress-free project management. We are excited to complete luxury rental projects in one of the fastest-growing markets in the country with one of the top residential developers in the Miami area.”
Construction will be completed in three phases. The first phase will introduce the first of two nine-story buildings, delivering 22 luxury rental residences with two- to four-bedroom floorplans, a structured parking garage, and an amenity-rich rooftop featuring a swimming pool, fitness facilities, and sundeck. The sponsor brings a strong development background, having previously developed, built, and sold luxury residential projects in New York, Las Vegas, Miami, and Los Angeles, often achieving above-market pricing.
Market Context + What It Means
Bay Harbor Islands continues to evolve into an exclusive luxury rental destination, benefiting from its waterfront setting, proximity to Miami’s most affluent neighborhoods, and a growing pipeline of high-profile residential developments. Demand for professionally managed, design-forward rental communities remains strong as renters seek luxury accommodations without the long-term commitment of ownership.
In this environment, construction financing solutions that offer flexibility, responsive draw processes, and certainty of execution are critical. Private construction lenders play an increasingly important role in supporting phased luxury developments that require consistent capital access over extended timelines.
By delivering a $20 million construction loan tailored to the project’s phased execution, EBSC Lending enabled the sponsor to advance development while maintaining alignment between capital availability, construction milestones, and long-term market positioning.
Frequently Asked Questions
What type of loan did EBSC Lending provide for this project?
EBSC Lending provided a $20 million construction loan to finance the ground-up development of a luxury rental community in Bay Harbor Islands, Florida.
How is the project being developed?
The project will be completed in three phases, beginning with the first of two nine-story residential buildings and expanding to a total of 110 luxury rental residences.
Why is Bay Harbor Islands attractive for luxury rental development?
Bay Harbor Islands offers proximity to premier retail, dining, and waterfront amenities while maintaining a boutique, community-oriented atmosphere within the Miami market.
What types of residential projects does EBSC Lending finance?
EBSC Lending finances construction, bridge, and transitional loans for luxury rental, multifamily, mixed-use, and commercial real estate projects nationwide.
Related EBSC Lending Financing Programs
EBSC Lending provides flexible private capital solutions across the United States, including:
Construction Loans – Ground-up and phased construction financing for luxury and multifamily developments
Commercial Bridge Loans – Short-term financing for transitional and stabilized assets
Multifamily Financing – Acquisition, construction, and refinance loans for apartment communities
