S3 Originates $111M Construction Loan for Edgewater Rental Community
S3 Capital originated a $111 million construction loan to finance the development of Sense22, a 36-story multifamily development located at 114-138 NE 22nd St in Edgewater, Miami.
JLL Capital Markets’ Max La Cava worked on behalf of HA Emprendimientos to arrange the financing. HA Emprendimientos develops residential and mixed-use projects across the United States and Latin America. The firm has developed more than 1,000 residential units and over 1.2 million square feet, including Sense28, an 8-story, 53-unit multifamily rental project also in Edgewater.
The project will deliver 328 residential rental units across approximately 262,000 net rentable square feet, with an average unit size of 799 square feet and a mix of studios, one-bedrooms, and two-bedrooms.
GRYCON is serving as general contractor on the project.
The building’s amenity program includes a rooftop terrace, pool deck, a furnished rooftop terrace with outdoor grilling areas, spa, fitness center, and co-working spaces.
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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