Oak Row Closes on Miami High-Rise Financing
Oak Row Equities closed on a $210.5 million construction loan for 2900 Terrace, a multi-family tower in Miami’s Edgewater neighborhood. The financing package includes a $142.5 million senior loan from Bank OZK and a $68.0 million mezzanine loan from Canyon Partners Real Estate LLC. Christopher Peck, Brian Gaswirth, Nicco Lupo, Nick Lavin and John Lowe led JLL Capital Market’s debt advisory team, representing the borrower.
Designed by Arquitectonica, 2900 Terrace will feature 324 oversized homes with private and shared outdoor spaces. It will include one, two, and three-bedroom residences, many of which will offer terraces and home offices.
Indoor amenities include a fitness center, co-working spaces with podcast studios, a content creator studio, card room, resident lounge, treatment rooms, sauna, golf simulator, theater, and a children’s playroom.
Outdoor amenities feature a swimming pool, cold plunge, poolside cabanas and lounge seating, BBQ grills and picnic seating, a hot tub, summer kitchen, two padel courts, a children’s playground, and a co-working terrace. Construction will commence immediately, with delivery anticipated in Q4 2027.
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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