Latigo Group scores $50M loan for Miami Gardens apartments

Monthly rents will range from $1,700 to $2,300

Jan.January 15, 2020 11:30 AM
The Center at Miami Gardens (Credit: iStock)

The Center at Miami Gardens apartments (Credit: iStock)

The Latigo Group scored a $50 million construction loan for its apartment project that will be part of a major mixed-use development in Miami Gardens.

The Los Angeles-based real estate firm scored the loan from 3650 REIT to construct its 259-unit project at 19279 Northwest 27th Avenue in Miami Gardens.

Called the Center at Miami Gardens, the project will have three residential buildings as well as a clubhouse, and will sit on about 10 acres of land. It is adjacent to a Super Walmart and south of the Hard Rock Stadium.

The first apartment units will be delivered in late 2020. Rents will range from $1,700 to $2,300 per month depending on the unit type, size, and features, according to a spokesperson for 3650 REIT.

The apartments are part of a bigger development known as the Pomelo that will include a 37,000-square-foot building on a 4.63-acre parcel that will be leased to 24 Hour Fitness. It will also include a 1.39-acre parcel that will be leased to Murphy Oil USA for 20 years, according to Latigo Group’s website.

The Latigo Group is a privately-owned residential, mixed-use real estate development and investment company.

Related Articles

Hard Rock Stadium (Credit: Getty Images, iStock)

Why Super Bowl LIV could spark interest in Miami Gardens real estate

Daily Digest Miami

Scaramucci slashes his sights on his Opportunity Zone fund, Florida’s first LGBTQ+ senior housing development breaks ground: Daily digest

1000 Park Centre Boulevard, Joe Le Bas

Miami Gardens commercial site sells for $19M

Daily Digest Miami

Aston Martin condo tower adds superyacht marina amenity, Sapir wants to sell Edgewater site: Daily digest

Blackstone CEO Stephen A. Schwarzman and 5120 Northwest 165 Street

Blackstone buys two Miami Gardens industrial properties for $14M

Marcus & Millichap’s Alex D. Zylberglait and 16320 Northwest 2nd Avenue

Toyota of North Miami locks up former FBI building near Miami Gardens for $13M

Northwest 167th Street and Ernesto Lopes of ahs Residential (Credit: Google Maps)

AIDS Healthcare Foundation sells three vacant lots in Miami Gardens

Dwight Y. Angelini and the property (Credit: Google Maps)

Longpoint Realty pays $25M for Miami Gardens industrial park