CYMBAL DLT Companies Locks Down $95 Million Loan For Newly Built Oasis Pointe Residences In Dania Beach

Miami-based real estate development and construction firm Cymbal DLT Companies has secured a $95 million loan from Kookmin Bank and Related Fund Management for Oasis Pointe Residences, a multifamily complex in Dania Beach that they recently developed and will now continue to be part of the Cymbal DLT Collection of communities in South Florida.

Within 29 months of groundbreaking, Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT and distributed to their equity investors over a 130% return, a return that will continue to grow with ongoing cash flow. The loan will allow Cymbal DLT and their investors to keep the newly built 301-unit community as part of their growing multifamily portfolio. Cymbal DLT has a development and construction pipeline of over $2 billion in South Florida.

“We are grateful to our investors and lenders for the confidence that they have placed in us,” said Asi Cymbal, Chairman of Cymbal DLT. “We are proud of the fact that we 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, Will (Woosuk) Cha from Kookmin Bank, and Asi Cymbal, Hector Torres, Jacob Nunez, and Jake Fleischer from Cymbal DLT worked to close this deal. Cymbal DLT’s private financier Christian Uriarte and Gautham Atreya of Cymbal DLT brokered the loan. John Hotte of Krinzman Huss Lubetsky Feldman & Hotte was legal counsel for Cymbal DLT.

The 2.4-acre waterfront complex opened 8 months ago and is 97% leased. It serves as the area’s first waterfront apartment building with 301 units, thoughtfully designed details, and exceptional indoor and outdoor amenities to create fresh-air havens of relaxation and retreat. The living spaces of the building feature a mix of studios, one, two, and three-bedroom luxury apartments with open floor plans and modern features.

The residential design of the luxury indoor and outdoor living spaces respond to the timely demands for better natural ventilation, lighting, and fresh air quality while the amenities seek to enhance the mental and physical well-being of residents.

Inspired by the surrounding water and nature, key amenities and features of the eight-story building include: a meditation garden; a waterfront boardwalk with a 19-slip marina; a Zoom lounge with private office suites and workstations; an outdoor lap pool; a fire pit with outdoor BBQ and picnic areas; state-of-the-art, open-air fitness facility and yoga studio; an indoor lounge and game room; and a dog park.

Located at 150 South Bryan Road in Dania Beach with easy access to I-95 and I-595, Oasis Pointe is in close proximity to the Fort Lauderdale-Hollywood International Airport, Port Everglades Cruise Port and the corporate headquarters of Spirit Airlines and Chewy. It is adjacent to Dania Pointe, a mixed-use development that features premier shopping and dining options, commercial spaces, and a dual-branded hotel.

Cymbal Development Tops Off Oasis Pointe Residences In Dania Beach 6 Months After Breaking Ground

Cymbal Development and DLT Global have topped off Oasis Pointe Residences in Dania Beach, just 6 months after breaking ground on the project. Plaza Construction is the general contractor on the multi-unit waterfront apartment complex which set to open Spring 2022. Oasis Pointe Residences is part of Cymbal Development's $1 billion+ development pipeline slated for Broward County.

Cymbal Development, led by Asi Cymbal, and DLT Global, led by Hector Torres, were joined by elected officials and public servants including Broward County’s Vice Mayor Michael Udine, Dania Beach Mayor Tamara James, Vice Mayor Marco Salvino, Dania Beach City Commissioner Joyce Davis, former Mayor Bobbie Grace, former Commissioner Bill Harris, Development Director Eleanor Norena, Special Permitting Coordinator Tammie James, and the Executive Director at Dania Beach Community Redevelopment Agency Michael Chen.

To mark the occasion, the final piece of the structure was hoisted into place atop the highest point of the building accompanied by a small money tree from the property as confetti cannons were launched and a giant American flag waved in the background. After the ceremony, the tree was brought down safely to be replanted in the meditation garden at Oasis Pointe Residences.

A 2.4-acre waterfront complex, Oasis Pointe Residences will serve as the area’s first waterfront apartment building with 301 units, thoughtfully designed details, and exceptional indoor and outdoor amenities to create fresh-air havens of relaxation and retreat in a post COVID-19 world. The living spaces of the building will feature a mix of studios, one, two, and three-bedroom luxury apartments with open floor plans and modern features.

The residential design of the luxury indoor and outdoor living spaces responds to the timely demands for better natural ventilation, lighting, and fresh air quality while the amenities seek to enhance the mental and physical well-being of residents.

Inspired by the surrounding water and nature, key amenities and features of the eight-story building will include: butterfly and meditation gardens; a boat club; a waterfront boardwalk with a 19-slip marina; a Zoom lounge with private office suites and workstations; an outdoor lap pool; a fire pit with outdoor BBQ and picnic areas; a state-of-the-art, open-air fitness facility and yoga studio; an indoor lounge and game room; a dog park; and air purification, sterilization, and ionization systems that are 99% effective against COVID-19.

“We are grateful for this opportunity to build an amazing project in Dania Beach, on the water, and adjacent to the myriad of dining, shopping, and entertainment options of Dania Pointe. We are here to make a significant and positive impact on the community and on this great city. We love Broward County and are looking forward to completing our $1 billion development pipeline in Broward County!” said Asi Cymbal.

Located at 150 South Bryan Road in Dania Beach with easy access to I-95 and I-595, Oasis Pointe will be in close proximity to the Fort Lauderdale-Hollywood International Airport, Port Everglades Cruise Port and the corporate headquarters of Spirit Airlines and Chewy. It is adjacent to Dania Pointe, a new mixed-use development that features premier shopping and dining options, commercial spaces, and a dual-branded hotel.