The Real Deal Miami

Codina Partners lands $46M loan for Downtown Doral tower

Wells Fargo granted the construction loan for 5300 Paseo

April 20, 2015 12:00PM
By Katherine Kallergis

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Downtown Doral

Downtown Doral

Downtown Doral received a $46 million loan for one of its residential projects, 5300 Paseo, Miami-Dade County records show.

Wells Fargo granted the mortgage to Parcel C1 Property, a company affiliated with Codina Partners, for the site at 5300 Northwest 85th Avenue.

The 219-unit building is designed by Sieger Suarez and has an estimated move-in date of December 2015. Amenities will include a gym, spa, pool with cabanas, ten-foot terraces and electric car charging stations, according to Codina Partners.

The condos will include one, two and three bedrooms and will go up to 1,455 square feet. Penthouses will go up to 1,927 square feet.

When completed, Downtown Doral will include a charter school, a 3-acre park, and Main Street, which will have more than 180,000 square feet of retail and more than 1 million square feet of office space.

The Related Group and Shoma Homes are developing their own mixed-use community nearby: CityPlace Doral, which will include 600,000-square-feet of retail and more than 1,000 residences.