News

CREI Holdings secured a $41 million loan from Lument for refinancing Li'l Abner II apartments at 400 NW 112th Ave. in Sweetwater, completed in April 2023. The transaction, led by Marc Suarez, a managing director at Lument, closed on Dec. 29. READ MORE

CREI Holdings, led by Managing Member Raul Rodriguez, secured a $41 million loan led by Marc Suarez of Lument for the refinancing of Li’l Abner II apartments, located in Sweetwater, Miami. Completed in April 2023 and designed by Burgos Lanza Architects and Planners, the eight-story building offers 244 one- and two-bedroom units dedicated to affordable and workforce housing, with 40 percent allocated to low-income seniors. Despite being near full occupancy, Miami-Dade County faces a shortage of affordable housing options, particularly affecting renters and frontline workers, according to a University of Florida report, with a projected gap of nearly 116,000 units by 2030 unless more affordable housing is created. READ MORE

Miami-based development firm CREI Holdings has secured a $41 million loan from Lument to refinance CREI's Li’l Abner II apartments, completed in April 2023 in Sweetwater. Designed by Burgos Lanza Architects and Planners, the 8-story building, adjacent to its 87-unit sibling Li’l Abner I, offers 244 one- and two-bedroom units dedicated to affordable and workforce housing, with 40 percent designated for low-income seniors and the rest for residents earning up to 120 percent of the area’s median income. Led by Marc Suarez, a managing director at Lument, the transaction closed on December 29, 2023. “We’re deeply appreciative of the dedication shown by Marc and the Lument team in finalizing this loan before the year’s end,” said Raul Rodriguez, Managing Member of CREI Holdings. “The creation of affordable and workforce housing has become increasingly challenging, and we extend our gratitude to Miami-Dade County for its crucial support, which has played a role in facilitating this refinancing. It is essential for both the public and private sectors to collaborate in addressing the affordable housing crisis. With each sector fulfilling its responsibilities, there’s no reason why we cannot overcome this challenge together.” READ MORE

"CREI Holdings, a development firm, secured a $41 million loan from Lumen to refinance the Li’l Abner II apartments in Sweetwater. The 8-story building, completed in April 2023, features 244 one- and two-bedroom units dedicated to affordable and workforce housing, with 40 percent for low-income seniors and the rest for residents earning up to 120 percent of the area’s median income. “We’re deeply appreciative of the dedication shown by Marc and the Lument team in finalizing this loan before the year’s end,” said Raul Rodriguez, Managing Member of CREI Holdings. “The creation of affordable and workforce housing has become increasingly challenging, and we extend our gratitude to Miami-Dade County for its crucial support, which has played a role in facilitating this refinancing. It is essential for both the public and private sectors to collaborate in addressing the affordable housing crisis. With each sector fulfilling its responsibilities, there’s no reason why we cannot overcome this challenge together.” READ MORE

Members of the Sweetwater community were invited to attend a Thanksgiving Bash hosted by the Li’l Abner Foundation in Miami’s Sweetwater. The annual event was filled with activities designed to create unforgettable memories for Sweetwater residents. Adults and children participated in complementary family activities, games for the little ones, shows and entertainment, and lunch for everyone. The event benefited some of the lowest-household-income zip codes in Miami-Dade County. The 14th Annual Thanksgiving Bash was the brainchild of Sweetwater resident, entrepreneur, and affordable housing developer Raul Rodriguez. Born and raised in Sweetwater, Raul uses this opportunity to invest in the community and give back. READ MORE