Arrow Arranges $85M Construction Loan for Miami Condo Project
Arrow Real Estate Advisors arranged an $85 million construction loan on behalf of Northlink Capital for the development of 7200 Collins Avenue, a 222-unit luxury condominium project in Miami Beach, Florida.
The financing, provided by Deutsche Bank, refinances existing debt and will fund the ground-up construction of the 12-story, 274,150-square-foot residential tower through completion.
Located at the intersection of Collins Avenue and 72nd Street in Miami Beach’s North Beach neighborhood, the project will offer a collection of studio-, one-, and two-bedroom residences with an average unit size of approximately 489 square feet. Approximately 81% of the residences are priced below $1 million.
Amenities will span three levels and include the exclusive 7200 Collins Beach Club, a swimming pool, fitness center, ground-floor retail and food and beverage offerings, and landscaped rooftop sundecks.
Arrow Real Estate Advisors’ Morris Betesh, Alex Bailkin, and Matt O’Hanlon arranged the financing.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout