Cymbal DLT Companies, a Miami-based real estate development and construction firm, has secured a $95 million loan from an undisclosed senior lender and Related Fund Management. The loan is intended for Oasis Pointe Residences, a 301-unit multifamily complex designed by CES Design Group located at 150 South Bryan Road in Dania Beach, a significant part of the Cymbal DLT Collection of communities throughout South Florida.
Just shy of two and a half years since breaking ground, Cymbal DLT Companies has cleared its $60.3 million construction loan owed to 3650 REIT. This early payoff has enabled the firm to provide its equity investors a substantial return exceeding 130%. Investors can expect this return to grow as the project generates cash flow. The new loan ensures that the recently completed community remains integral to the company’s expanding multifamily portfolio. With a South Florida development and construction pipeline worth more than $2 billion, Cymbal DLT’s growth momentum shows no signs of slowing down.
“We are grateful to our investors and lenders for the confidence they have placed in us,” said Asi Cymbal, Chairman of Cymbal DLT. “We are proud to have rewarded our investors with unmatched returns and have always paid our lenders in full.”
“Cymbal DLT’s focus on best in class has allowed us to mitigate risk and thrive during these turbulent times,” added Hector Torres, CEO of Cymbal DLT.
Patrick Martin from Related and Asi Cymbal, Hector Torres, Jacob Nunez, and Jake Fleischer from Cymbal DLT were all instrumental in the months-long process that led to the successful closing of this deal. Christian Uriarte, Cymbal DLT’s private financier, and Gautham Atreya of Cymbal DLT brokered the loan. John Hotte from the Krinzman Huss Lubetsky Feldman & Hotte law firm served as legal counsel for Cymbal DLT.
Opened just eight months prior, the 2.4-acre waterfront complex, Oasis Pointe Residences, has reached an impressive 97% occupancy rate. This establishment is the area’s pioneer waterfront apartment building, offering 301 units with carefully considered design elements and an array of both indoor and outdoor amenities that foster spaces of relaxation and retreat. The property features a variety of living spaces, ranging from studios to three-bedroom luxury apartments, all boasting open floor plans and contemporary features.
The design of the indoor and outdoor residential spaces in this luxury complex prioritizes improved natural ventilation, lighting, and air quality, aligning with modern demands for healthier living environments. The array of amenities integrated into the property is intended to foster and enhance the physical and mental well-being of the residents.
Drawing inspiration from its natural surroundings of water and greenery, the eight-story building offers a suite of essential amenities and features. These include a tranquil meditation garden and a waterfront boardwalk with a 19-slip marina. The property also houses a Zoom lounge with private office suites and workstations. Outdoor amenities cater to various activities, including a lap pool, a fire pit with accompanying BBQ and picnic areas, and a dog park. Fitness enthusiasts will appreciate the state-of-the-art open-air fitness facility and yoga studio. Furthermore, an indoor lounge and game room provide additional spaces for residents to unwind and socialize.
Oasis Pointe benefits from its easy accessibility to the I-95 and I-595 highways. Its prime location is near the Fort Lauderdale-Hollywood International Airport, Port Everglades Cruise Port, and Spirit Airlines and Chewy corporate headquarters. Furthermore, its adjacency to Dania Pointe, a mixed-use development featuring a range of premier shopping and dining options, commercial spaces, and a dual-branded hotel, adds further convenience for its residents.