The Real Deal Miami

River Landing developer acquires site, gets loan

New York lender provides $38.2M mortgage for Miami mixed-use project

April 03, 2014 11:15AM
By Eric Kalis

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Rendering of River Landing's retail space

Rendering of River Landing’s retail space

The developer of River Landing officially acquired the Miami project site and obtained a $38.2 million mortgage, The Real Deal has learned.

Andrew Hellinger’s River Landing Development picked up the 1400, 1420 and 1500 Northwest North River Drive site in a $26 million transaction last Friday, according to Miami-Dade County records. The county recorded the transaction Wednesday. The seller was Miami-based Mahi Shrine Holdings.

Eastwatch Holdings T, a company tied to New York-based NorthStar Realty Finance, gave River Landing a $38.2 million loan.

Miami commissioners approved the nearly 2.4 million-square-foot River Landing development in May 2013. Plans for the Miami River site, which is home to the Mahi Shrine Auditorium, include a 537,000-square-foot retail building and two residential towers with 444 apartments. HGTV’s David Bromstad is the creative consultant for the development.

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