North Development Lands $220M C-PACE Loan for Miami Residences
North Development secured a combined $220 million in C-PACE (Commercial Property Clean Assessed Energy) and mortgage construction financing for the development of Domus Brickell Center. North says the financing is the largest ground-up C-PACE construction loan in South Florida to date.
Bayview PACE structured approximately $180 million in financing, while Core Capital provided an additional $40 million in financing.
Located at 1034 SW 2nd Ave in the heart of Miami’s Brickell neighborhood, Domus Brickell Center will rise 35 stories and will deliver 579 residences, ranging from a studio to two bedrooms. Designed by Studio MC + G Architecture, residences in Domus Brickell Center come fully finished. Domus Brickell Center’s amenity suite includes a rooftop pool and sky deck with cabanas and daybeds, a rooftop bar, a hot tub, and a rooftop yoga deck, as well as an indoor-outdoor gym, a lounge, co-working spaces and a conference room, on-call housekeeping, and a signature lounge and an on-site restaurant on the lobby level.
Other News
Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
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MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
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Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
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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