The Real Deal Miami

Gables Gate Tower builders get $27M loan

Banesco USA provides construction financing for West Miami apartment project
May 14, 2014 12:45PM

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.

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