Alta Scores $60M Financing for Princeton Rental Community
Alta Developers received a $60 million loan to finance and begin construction of Princeton Commons, a 378-unit residential development located at 24450 S.W. 127th Ave. in the Miami suburb of Princeton. The financing was secured from City National Bank by a Newmark team comprising of Nick Scribani, Holden Witkoff, Max Ralby, and Ricky Braha.
The Project represents the first phase of a master development controlled by Alta. Princeton Commons will feature a diverse unit mix across multiple buildings with parking. A modern clubhouse and deck area will include a pool, fitness center, club room, outdoor playground, and more. The Project was designed by MSA Architects. The general contractor for the project is Jaxi. The second phase will include 226 apartments.
Alta Developers is a South-Florida based real estate development firm with current projects such as EON Flagler Village, Pacifica Boynton Beach, Quadro at the Miami Design District, Neovita Doral, VESTA at Neovita Doral, and past projects such as One Paraiso, Le Parc at Brickell, Quantum on the Bay, and Metropolis at Dadeland.
Other News
Gilbane, Strada Development Break Ground on Affordable Tower in Castle Hill/Soundview
City and state officials joined Gilbane, Strada Development LLC and the Center for Urban Community Services (CUCS) to break ground on 1920 Turnbull, a $175-million affordable and supportive housing development located at 1920 Turnbull Ave. in the Castle Hill/Soundview neighborhood of the Bronx. 1920 Turnbull will deliver a 22-story building with 228 affordable rental apartments,...
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PCCP Provides $41M Refi on North Park Multifamily
PCCP has provided a $41-million senior loan to refinance Tenney North Park, a newly constructed, 125-unit multifamily property with ground-floor retail in San Diego’s North Park submarket. The loan was provided on behalf of owner and developer Foulger-Pratt and refinanced an existing construction loan. Built in 2025, Tenney North Park is an eight-story property located...
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Merchants Capital Secures $30M for 227-Unit Indianapolis Multifamily Development
Merchants Capital announced $30.7 million in forward-committed permanent financing for Central at Old Southside, a 227-unit 4% low-income housing tax credit multifamily development to be built in Indianapolis, Indiana, by The Annex Group. Merchants Capital secured a $30.7 million cash-backed Freddie Mac Forward TEL loan for the development. “The addition of more than 200 affordable...
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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