Follow the Money: What Miami’s Top Lenders Are Seeing Right Now with Zack Simkins | EP. 114
The influx of wealth into Miami isn't just a temporary migration trend—it's a durable shift driven by corporate relocations, high-net-worth individuals from New York and California, and a renewed flow of foreign capital from Argentina and Venezuela. Zach Simkins, managing director of Vastor, a Miami-based private lender, reveals that while ultra-prime trophy properties (over $20M) are still commanding intense demand, the middle market (five to $15M) is facing a slowdown due to unrealistic pricing and rising costs. What’s fueling the real estate engine isn’t just cash buyers, but the ripple effect of new residents who raise property values across entire neighborhoods. Simkins emphasizes that private lenders like Vastor are essential in bridging gaps when traditional banks pull back—especially in short-term, high-value transactions. He describes his role not as a lender, but as a 'debt partner' who thrives on urgency, trust, and execution speed. The most exciting deals? Not the biggest loans, but the ones where a borrower is on the verge of losing a contract and needs a lifeline—where Vastor becomes the hero. This isn’t just about real estate; it’s about building a sustainable economic ecosystem where talent, capital, and community converge. Key takeaways include the growing importance of private lending in Miami’s real estate cycle, the shift in foreign investment patterns post-COVID, and the critical role of strategic underwriting in high-risk waterfront assets.
Private lenders like Vastor are essential for closing high-value deals when traditional banks retreat, especially for properties over $20M.
The middle market (5–15M) is slowing due to overpricing and rising costs, creating a risk of price saturation and depreciation.
Foreign investment is rebounding from Argentina and Venezuela, with capital returning to Miami’s condo and residential markets.
New residents from New York and California aren’t just buying homes—they’re raising neighborhood values and creating ripple effects across entire communities.
Waterfront properties require strategic underwriting: high insurance, tax reassessment, and carrying costs can outweigh the benefits of leverage.
…and 3 more takeaways available in PodZeus
The SEAL Team 6 of Private Lending
“So you guys are like the Vassar's, like the sealed team six that's coming to have some mail you out of the table. Right over here at the closing table. Now if you get to the closing table and you're not with Vassar, you're probably waiting too long.”
Vastor’s Role in Miami’s Real Estate Engine
Zach Simkins explains Vastor’s focus on short-term, high-value residential loans—bridge financing and cash-out refinancing for luxury properties. The firm specializes in transactions where speed, flexibility, and relationship matter more than low rates.
The Ultra-Prime Market Is Still Hot
“Now you have a new wave of buyers that's helping to elevate their assets and the assets in those neighborhoods. So it's definitely a very big positive in Miami.”
The Middle Market Is Stalling
“If they didn't build a suit accordingly then they're going to get stuck and then you start feeling the pressures of your lending partners and that's going to put some negative pressure onto the pricing.”
Foreign Capital Is Returning
After a dip during COVID, foreign investment is rebounding—especially from Argentina and Venezuela. Vastor’s portfolio is shifting back toward a 60/40 or 50/50 split between foreign and domestic borrowers.
“So you guys are like the Vassar's, like the fixer in this scenario. Like the sealed team six that's coming to have some mail you out of the table. Right over here at the closing table. Now if you get to the closing table and you're not with Vassar, you're probably waiting too long.”
“My favorite scenario is if you're under contract and you have a deposit, and someone else was unable to execute, and now you need like a lifeline.”
“Now you have the foreign investor still active in Miami. You have a domestic investor now active in Miami, and that was going to create Miami as a true mecca for real estate in the near future.”
Host
Guest
Vastor
organization
Zach Simkins
person
Omar DeWin
person
Indian Creek
place
Citadel
organization
Palantir
organization
Fargo
organization
Travera Real Estate
organization
Surfside
place
Coral Gables
place
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