CC Residential lands $43.3M construction loan for Doral apartments

The Coral Gables-based firm will use the loan from PNC Bank to finance construction of Doral 4200, a 250-unit rental apartment property

Rendering of the Doral 4200 rental apartment development
Rendering of the Doral 4200 rental apartment development

CC Residential, led by developers Armando Codina and James Carr, landed a $43.3 million bank loan to finance construction of an apartment building in Doral.

A company affiliated with Coral Gables-based CC Residential got the construction loan from PNC Bank.

The loan will finance construction of Doral 4200, a 250-unit apartment building on a 9.6-acre site at 4200 Northwest 107th Avenue in Doral.

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Common-area amenities at Doral 4200 will include a swimming pool, a clubhouse and play area for children, plus walkways circling lakes.

In January, CC Residential paid $11 million for the development site, located just north of Northwest 41st Street, a major arterial road in Doral.

CC Residential’s Codina is the lead developer of a nearby mixed-use project called Downtown Doral, a master-planned development that will have more than 1.4 million square feet of commercial space, including 400,000 square feet of office space, and 5,000 residential units. [South Florida Business Journal] Mike Seemuth