River Landing developer acquires site, gets loan

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.

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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.