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South Florida

Gables Gate Tower builders get $27M loan

Gables Gate Tower rendering
Gables Gate Tower rendering

The developer of the Gables Gate Tower apartment complex in West Miami received a $27 million construction loan.

Banesco USA provided the Estates Cos. and Mattoni Group with the financing for the 206-unit complex, according to Miami-Dade County records. The developers started construction on Gables Gate in January. Apartments range in size from 750 to 1,250 square feet.

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Gables Gate is being developed on 2.1 acres on Southwest 67th Avenue between Southwest 21st and 22nd streets. Planned amenities include a pool, gym and club room.

The Estate Cos. and Mattoni hope to finish the project by spring 2015. — Eric Kalis

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