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South Florida

CC Residential buys land, gets large loan

Conceptual rendering of Kendall West
Conceptual rendering of Kendall West

A company tied to CC Residential picked up a development site in Miami’s Kendall neighborhood and received a $50.2 million mortgage.

The Codina-Carr company took ownership of about 34 acres northwest of Southwest 90th Street and 169th Avenue in a $13.1 million transaction, according to Miami-Dade County records. Kendall Investors 172 LLC of South Miami sold the land to CC Kendall Residential. The county recorded the deal last week.

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PNC Bank gave CC Kendall the loan, which likely covers future construction. CC Residential is planning a 396-unit apartment project in the area called Kendall West.

Developers Armando Codina and James Carr formed CC Residential for their various multi-family projects. — Eric Kalis

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