13th Floor, Key International score $95M loan for the Harbour

Miami /
Apr.April 14, 2016 04:30 PM

13th Floor Investments and Key International closed a $95 million construction loan for their North Miami Beach project, the Harbour. 

Arkansas-based Bank of the Ozarks is the lender for the twin-tower, 425-unit luxury development. Developers broke ground on the project in February and plan to complete construction by the summer of 2018, according to a press release.

The firms paid about $31 million for the land, a 5-acre site at 16385 Biscayne Boulevard, in August. When it opens, residents will have access to a variety of sports facilities, a private beach, infinity pool, restaurant and bar, spa, dog park, aromatherapy trail that surrounds the project site, playground and children’s water park, plus an aqua club that will lend out gear for a plethora of watersports, including boats.

The Harbour follows the cycle’s standard 50 percent deposit model. Median prices start in the $500,000s, according to the release. The project is more than 75 percent sold, according to a spokesperson.

It marks the fourth collaboration between 13th Floor and Key International. The two have worked on Eden House, 1010 Brickell and 400 Sunny Isles.


Related Articles

arrow_forward_ios
2095 Northeast 121st Road, North Miami (Realtor)
Centinela Tequila family buys waterfront spec mansion in North Miami for $10M
Centinela Tequila family buys waterfront spec mansion in North Miami for $10M
Renders of the new development on 1155 Northeast 126th Street (Kivvit)
North Miami CRA approves financing for new workforce housing development
North Miami CRA approves financing for new workforce housing development
Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)
Healthcare magnate spends $24M on sixth South Florida nursing home
Healthcare magnate spends $24M on sixth South Florida nursing home
A rendering of 14752 Northeast Sixth Avenue
Global One plans housing project near North Miami
Global One plans housing project near North Miami
A rendering of the Intracoastal Mall and Gil Dezer
Dezer’s plans to remake Intracoastal Mall face opposition
Dezer’s plans to remake Intracoastal Mall face opposition
Elvis Dumervil and 12501 Northeast 13th Ave. (Credit: Twitter, Google Maps)
Elvis Dumervil’s company fined in death of construction worker in North Miami
Elvis Dumervil’s company fined in death of construction worker in North Miami
Jay Jacobson of Eden Multifamily and Lazul Apartments (Credit: Google Maps)
North Miami Beach apartment project nabs $71M refinancing
North Miami Beach apartment project nabs $71M refinancing
North Miami Mayor Philippe Bien-Aime, city of North Miami City Hall (Credit: Ebyabe/Wikipedia)
North Miami offers grants to business owners hurt by coronavirus
North Miami offers grants to business owners hurt by coronavirus
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...