Codina lands $53M loan for Coral Gables apartments

Miami /
Jun.June 11, 2015 05:00 PM

CG Codina, an affiliate of CC Residential, obtained a $53.54 mortgage for 2020 Salzedo, a planned luxury high-rise apartment development. 

Regions Bank granted the loan for a bundle of properties in downtown Coral Gables between Navarre Avenue and Minorca Avenue on the west side of Salzedo Street, according to records filed with Miami-Dade County this week.

The 16-story residential tower will feature 214 apartments. Plans for the development also include a four-story office building, a seven-story parking garage with more than 500 spaces, and a retail component, according to plans filed with the city of Coral Gables last year. CG Codina paid $6.18 million for the four parcels totaling 1.6 acres, property records show, between December 2010 and March 2013.

Codina is also developing Downtown Doral, a master-planned community that will include eight to nine mid-rise condo towers, more than 1 million square feet of office space, a K-5 charter school, and 70 retail stores and restaurants.


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