NoBe Bay

Address: 6700 Indian Creek Drive
City, State: Miami Beach, Florida
Property Type: Residential Condo/Garage
Year Built: 2009 (80% Complete)
Units: 98
Parking Garage Spaces: 453
Ground Floor Retail SF: 7,610 sqft
Acquisition Type: Senior Note
Acquisition Date: June 2011

Rok Acquisitions and Tate Capital executed a contract with the seller to acquire the first mortgage on NoBe Bay and Indian Creek Parking Garage. The property contains a partially complete 98-unit condominium tower and a separate 6 story parking garage. The property is located at 6700 Indian Creek Drive, Miami Beach, Florida. Prior to closing, the venture sold the contract for a substantial profit. Terms of the deal are protected under a confidentiality agreement.