Continuum on the Bay presented a unique opportunity to revitalize a prime waterfront site on North Bay Village Island, currently occupied by a dated hotel and restaurant. By acquiring this 118-key Best Western property with an adjoining 20-slip marina, LongLine recognized the potential to transform the location into a high-end luxury condo development.

With favorable zoning that supports increased density and a desirable location close to South Beach and the Design District, the investment aligned perfectly with LongLine’s strategy to capitalize on high-growth, value-add real estate opportunities.

LongLine facilitated a $67.6 million acquisition and renovation loan for the transformation of the site. The scope included predevelopment work for the future luxury condo project, with plans for a partial renovation of existing structures to generate immediate cash flow.

The investment also enabled strategic renovations, such as a $2.5 million facelift to the restaurant and bar, enhancing the property’s appeal and securing future value. LongLine’s capital infusion allowed the sponsor to advance plans for the Continuum Club & Residences, a luxury project poised to capture high-end buyers.

Key risks for this project included tight development timelines and the inherent uncertainties of the South Florida condo market. LongLine mitigated these risks by partnering with a sponsor experienced in luxury developments, securing their commitment with $25 million in equity and a $7.5 million personal guarantee linked to a cash-flowing asset.

Additionally, LongLine’s focus on predevelopment and interim renovations minimized exposure by generating near-term revenue, reducing financial risk throughout the project.

LongLine’s execution of this transaction was seamless, leveraging the sponsor’s track record in luxury developments and ensuring a well-capitalized entry into the market. By providing tailored financing solutions that matched the project's specific needs, LongLine facilitated both the acquisition and the strategic renovation phases.

The investment was effectively structured to balance immediate returns from existing assets while laying the groundwork for the longer-term, high-value condo conversion.