BH3’s first transaction as a firm in 2009, Terra Beachside, is comprised of 117 unique condominiums encompassing approximately 200,000 square feet directly across the street from the beach on 60th Street & Collins Avenue in Miami Beach. BH3 acquired the $47 million non-performing senior construction loan in Q4 ’09 from Regions Bank at a significant discount and simultaneously took over ownership and control of the then-stalled construction which was 70% complete.
Throughout 2010 and 2011, BH3 completed construction and sold 100% of the condominium residences to end buyers.
Address: 6000 Collins Avenue, Miami Beach, FL
