L&L Holding Company, Oak Row Equities and Shorenstein have locked down $215 million in construction financing for Wynwood Plaza, a mega mixed-use development on a 2.85-acre site in Miami’s Wynwood Arts District. Managing Director Scott Wadler and Vice President Michael Basinski of Berkadia South Florida secured the financing on behalf of the developers.
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Royal Palm Companies Locks Down $76.5 Million Construction Loan For Elevate Apartments In Dania Beach
Dan Kodsi’s Royal Palm Companies has locked down a $76.5 million construction loan for Elevate Apartments in Dania Beach. The 36-month financing was provided by the Miami-based 3650 REIT and replaced a previous $64 construction loan. The multifamily project, which is located at 600 East Dania Beach Blvd., is roughly halfway complete.
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MG Developer and Baron Property Group Secure $148 Million Construction Loan From Post Road Group For Metro Parc
MG Developer and Baron Property Group, in partnership with Township Capital, have secured a $148 million construction loan from Post Road Group for Metro Parc, a 10-story, two-tower apartment rental property located at 955 East 25th Street and 980 East 26th Street in Hialeah, Florida. Metro Parc is a 2.5-acre residential mixed-use development that will rise 10-stories and deliver 559 rental apartments ranging from 500 to 800 square feet.
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The Allen Morris Company, Xenel International and Principal Real Estate Investors Close On $57.2 Million Construction Loan For Osceola County Multifamily Development
The Allen Morris Company, Xenel International U.S.A. and Principal Real Estate Investors have closed on a $57.2 million construction loan for The Maxwell at Xentury City, a 311-unit multifamily development located in Osceola County. The loan is being provided by Regions Bank. The Maxwell at Xentury City broke ground in September and has a completion date set for the second quarter of 2024.
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Neology Life Development Group Locks Down $57.5 Million Construction Loan For 'Fourteen Residences Allapattah'
Lissette Calderon’s Neology Life Development Group has locked down $57.5 million in construction financing for Fourteen Residences Allapattah, a two tower, 237-unit apartment community located in Miami, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Senior Analyst Shannon Wilson of Berkadia Miami secured the financing on behalf of Neology Life Development Group.
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Redevelopment Of Hollywood's Bread Building Site Secures $83 million Construction Loan
In partnership with Bridge Investment Group, Fort Lauderdale-based BTI Partners has secured an $83 million construction loan for a development in downtown Hollywood. The site was home to the long-neglected Hollywood Bread Building on Young Circle. The building was demolished last year. Canadian Imperial Bank of Commerce is the lender.
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Macken Companies Secures $16.5 Million Construction Loan For Koya Bay Luxury Waterfront Townhome Community In Eastern Shores, North Miami Beach
Macken Companies has secured a $16.5 million construction loan from LV Lending for Koya Bay, a luxury waterfront townhome community directly on the Intracoastal Waterway within the exclusive neighborhood of Eastern Shores at 4098 NE 167 St. in North Miami Beach. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the loan on behalf of the developer, Alan Macken, principal of Macken Companies.
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Forest Development Closes On $269 Million Construction Loan For Palm Beach County Condo
Forest Development has locked down a $269 million construction loan for Nautilus 220, a 330-unit luxury condominium project that is the first of its kind in Palm Beach County’s Town of Lake Park. Nautilus 220 will be 24-story twin condo towers on the water with a restaurant from renowned chef David Burke and many amenities.
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Omega Real Estate Locks Down $100 Million Construction Loan For North Miami Multifamily
Omega Real Estate has locked down $100 million in construction financing to develop The Gardens Residence, a 358-unit mid-rise apartment community with 1,100 square feet of ground floor retail in North Miami, Fla. The financing was provided by Churchill Real Estate and was arranged by Berkadia.
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Newgard Development Group Locks Down $170 Million Construction Loan For LOFTY Brickell Home-Sharing Tower
Newgard Development Group has locked down a $170 million loan from 3650 REIT for its newest residential property, LOFTY Brickell. The closing follows an impressive sales launch, with 80% of the tower’s inventory under contract and groundbreaking set to commence Q4. This is the second loan from 3650 REIT for LOFTY - the first being last fall tied to the land acquisition.
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