NP International has locked down a $158.4 million construction loan and are gearing up to break ground on Gables Station, a transit-oriented mixed-use project with 120,000 SF of retail space, 500 residential units and 66 hotel units. Developer Brent Reynolds plans to break ground before the end of Q1 2018. The financing was provided by Bank of the Ozarks and comes on the heels of Life Time Fitness signing a lease for 90K SF of retail space at Gables Station. NP International will also provide funding to develop a portion of the proposed Underline Park. NP International acquired the land adjacent to Merrick Park and Miami's Metrorail in Coral Gables at 251 South Dixie Highway in 2016 for $60 million. Construction is expected to be completed by Q3 2020.
The Real Estate Mogul's Guide to South Florida
