Codina Partners scores $41M construction loan for Downtown Doral rental building

The apartment building will have 231 units

Miami /
Aug.August 03, 2017 12:45 PM

UPDATED Aug. 3, 1:30 p.m.: Codina Partners just scored a $41.4 million construction loan for a multifamily building in Downtown Doral, property records show.

Codina Partners will be building a 231-unit apartment building that it is developing in partnership with an institutional investor advised by Invesco Real Estate, a real estate investment manager based in Dallas, according to a statement from Codina Partners. The rental building will sit directly across the street from Codina’s Downtown Doral Charter Elementary School at 8390 Northwest 53rd Street.

When completed, Downtown Doral will have a total of 70 retail stores and restaurants; more than 1 million square feet of commercial space; 400,000 square feet of Class A office space and 2,840 residential units. The master-planned community will include a city hall, charter school, townhomes, single-family homes and eventually, eight condo towers.

In Doral, Downtown Doral joins such other mixed-use developments as Related Group’s and Shoma Homes’ CityPlace Doral, which includes 600,000 square feet of retail and more than 1,000 residences.


Related Articles

arrow_forward_ios
Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps)
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Photo courtesy of David Iglesias
Boca Beach House condo project scores $43M construction loan
Boca Beach House condo project scores $43M construction loan
Nick Rojo and Jeff Burns (Affiliated, iStock)
Affiliated Development launches $125M workforce housing fund
Affiliated Development launches $125M workforce housing fund
Tom Cabrerizo and 6790-6880 Southwest 80th Street (Google Maps)
Developers score $15M construction loan for Miami townhouse development
Developers score $15M construction loan for Miami townhouse development
Triton Center (iStock)
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Michael S. Liebowitz and Russell Galbut (Linkedin)
Russell Galbut and partner launch blank check company, plan to raise $100M
Russell Galbut and partner launch blank check company, plan to raise $100M
Southland Mall, 20505 South Dixie Highway in Cutler Bay with JLL's Tom Hall and Danny Finkle (Google Maps, JLL)
Southland Mall’s troubled $65M CMBS loan for sale
Southland Mall’s troubled $65M CMBS loan for sale
Alan Ojeda and 8894 NW 44 Street in Sunrise (Google Maps)
Rilea Group scores $46M construction loan for Sunrise apartments
Rilea Group scores $46M construction loan for Sunrise apartments
arrow_forward_ios

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

Loading...