Financing Paves Way for Two New Industrial Buildings

MIAMI—The developer of the AVE Aviation and Commerce Center here has secured more than $20 million in financing for the construction of two Class A industrial buildings at the complex, one of which will be the new home for aircraft engine repair company Turbopower.

The financing is being provided by BB&T and was originated by the Miami office of Grandbridge Real Estate Capital. The funding will finance the development of two new buildings with approximately $9 million being allocated to construct Building “EF” and about $11.25 million for the construction of Building “J,” according to CPF Investment Group, the developer of the master-planned, mixed-use business park located at the western edge of Opa-Locka Executive Airport. Grandbridge Real Estate Capital Senior Vice President Phil Carroll originated the transactions.