Project Overview
Area Doral LLC is a project-level preferred equity vehicle participating in the capitalization structure of Doral Parc, a planned 349-unit multifamily development located in Midtown Doral, Florida.
The vehicle maintains a preferred equity position within MG DORAL PARTNER LLC, the joint venture entity participating in the underlying land acquisition and future development structure.
Investment Strategy
The project focuses on structured preferred equity investments backed by defined real estate assets and institutional-quality development sponsors.
The vehicle is designed around contractual payment obligations, defined hold periods, quarterly cash flow distributions, and priority return positioning within the project capital stack.
Structure & Terms
Area Doral LLC holds a substantial preferred equity investment in MG DORAL PARTNER LLC.
The investment structure includes:
- 24% annual preferred return
- Quarterly cash distributions
- Priority payment rights ahead of common equity
- Defined repayment waterfall
- Anticipated 18-month hold period
- Asset-level investment exposure
The broader capitalization structure includes approximately $21 million of land acquisition equity tied to the Doral Parc development project.
Private Credit Characteristics
Although tied to a real estate development project, Area Doral LLC operates as a structured private credit-oriented investment vehicle emphasizing contractual yield generation, transaction-level underwriting, defined repayment structures, and senior-position cash flow participation.
Area Capital's Position
Area Capital maintains a project-level investment position in Area Doral LLC through its Private Credit platform.
The vehicle is independently capitalized with defined project-level exposure and no cross-platform commingling with unrelated real estate or alternative asset investments.
