FIRST ON PROFILE: The New York and South Florida-based Landau Properties has closed on a construction loan for Indian Creek Residences & Yacht Club on Miami’s Bay Harbor Islands, a boutique residential property, which will include condominium residences and a private marina. Construction on the development is now underway and sales will formally launch this fall. Miami-based private real estate lender BridgeInvest originated the $29 million loan.
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Alex Witkoff of Witkoff Group and Shore Club Private Collection (Photo by Glen Allsop, Rendering via The Boundary)
Witkoff Group and Monroe Capital Close On Record-Breaking Loan For Shore Club Private Collection
Witkoff Group, a Miami-based development and investment firm, and Monroe Capital, a premier asset management firm, have closed on a $430 million construction loan for Shore Club Private Collection, which is on track to be one of the fastest-selling luxury developments in Miami Beach’s history. Financed by J.P. Morgan, the loan is believed to be the largest for a residential construction project in South Florida.
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Oak Row Equities And L&L Holding Company Secure Full Construction Financing For 'The Wynwood Plaza' One-Million-Square-Foot Dynamic Mixed-Use Campus
L&L Holding Company and Oak Row Equities today announced they have closed on $215 million in construction financing for The Wynwood Plaza, a one-million-square-foot campus that will bring class-AAA office, residential, retail and outdoor space to Miami’s famed Wynwood Arts District. L&L Holding, Oak Row Equities, alongside project partner Shorenstein and co-investor Claure Group, secured the loan from Bank OZK.
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Clara Homes Closes On $26 Million Construction Loan For Clara Bay Harbor Luxury Rental Development
The Miami-based Clara Homes, led by James Curnin, has closed on a $26 million construction loan financed by Maxim Capital for Clara Bay Harbor. The three-building development, Miami’s most anticipated new ground-up luxury rental community, will feature 150 total residences with five-star service and a suite of thoughtful amenities. Clara Bay Harbor’s first building is slated to break ground this March.
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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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