Prestige Companies nabs loan for mixed-use project in Hialeah

Amelia project will have 30 apartments and 17K square feet of commercial space

Miami /
Jun.June 18, 2020 08:45 AM
J.C. de Ona, Southeast Florida Division President of Centennial Bank, Amelia Mixed Use rendering

J.C. de Ona, Southeast Florida Division President of Centennial Bank, Amelia Mixed Use rendering

Prestige Companies scored a $6.6 million construction loan to develop a mixed-use project in Hialeah, as more developers continue to target the city.

The Miami Lakes-based company secured the loan from Conway, Arkansas-based Centennial Bank to construct the project at 7755 West Fourth Avenue. The project, known as Amelia Mixed Use, will have 30 one-bedroom and one-bathroom apartment rental units along with two commercial units totaling 17,000 square feet, according to a press release.

A daycare has preleased about 4,500 square feet of the commercial space, while Pan.Com Sandwicheria signed a lease for about 3,000 square feet, according to the release.

Prestige Companies, led by Marty Caparros, has a number of projects in the area. The development group’s projects include the Amelia Oaks, a nearby 82-unit rental project, and Las Vistas at Amelia, a 174-unit rental complex at 7925 West Second Court.

Real estate developers are eyeing Hialeah for new development due to its proximity to the Miami International Airport and less expensive land.

Vagabond Group’s Avra Jain is planning an adaptive re-use commercial development on about 6 acres east Hialeah.

A partnership of developers that includes Michael Wohl, Stephen A. Blumenthal and Oscar Rodriguez is building Pura Vida Hialeah, a 9-acre development with 260 apartment units and 51,000 square feet of retail space at 2901 to 3099 West 16th Avenue and 1571 West 29th Street.


Related Articles

arrow_forward_ios
Exeter Property Group CEO Ward J. Fitzgerald III (Ehlers-Danlos, Google Maps, Exeter)

Exeter lands $75M loan for spec Coral Springs warehouse project

Exeter lands $75M loan for spec Coral Springs warehouse project
Photo courtesy of David Iglesias

Boca Beach House condo project scores $43M construction loan

Boca Beach House condo project scores $43M construction loan
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
PGIM Real Estate CEO Eric Adler (left) and Bridge CEO Steve Poulos with a rendering of the cold storage facility  (Photos via PGIM; Bridge; Ware Malcolm)

JV developing Hialeah spec cold storage facility lands $67M construction loan

JV developing Hialeah spec cold storage facility lands $67M construction loan
Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

Sunny Isles mayor sells Hialeah warehouse for $13M

Sunny Isles mayor sells Hialeah warehouse for $13M
Seritage CEO Benjamin Schall, CTO CEO John Albright, and 1460 West 49th Street, Hialeah (Credit: Google Maps)

Seritage sells Hialeah shopping center for $21M

Seritage sells Hialeah shopping center for $21M
Renderings of a proposed project (Courtesy of Apex Capital Realty)

CBD investor sells Hialeah Gardens dev site for $5M

CBD investor sells Hialeah Gardens dev site for $5M
Michael Wohl and a rendering of the project

Coral Rock lands construction loan on Hialeah project

Coral Rock lands construction loan on Hialeah project
arrow_forward_ios

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

Loading...