Acre scores $72M refi for Miami waterfront multifamily project
Acre landed a $72 million refinancing for a 236-unit multifamily project on Miami’s waterfront. Nuveen Real Estate, part of TIAA, provided the three-year, floating-rate loan for Adela at MiMo Bay, a five-story apartment building facing Biscayne Bay at 6445 Northeast Seventh Avenue in Miami’s MiMo Biscayne Boulevard Historic District, a press release states. A JLL team led by Jesse Wright and Peter Rotchford arranged the mortgage, which was split into $63.1 million in initial funding and $8.9 million in future funding for planned property enhancements. Atlanta-based Acre, led by Les Menkes and Michael Van Der Poel, partnered with QuadReal Property […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
A rising threat to homeownership: How heirs’ property undermines affordable housing
Figure unveils industry-first blockchain stock offering
Beazer Homes shifts to move-up buyers, bets on energy efficiency
‘Selling Sunset’ Star Mary Bonnet Reveals How Much She Really Earns—as She Lays Bare ‘Ironclad’ Prenup
PHH Mortgage will halt reverse originations, sell MSRs to Finance of America
Illinois is Struggling in Affordability and Homebuilding: Can Governor Pritzker Revive the Market?
Nantucket Homeowner Accused of Chopping Down Neighbor’s Trees Sells Property for $2.1 Million Below Asking
When land strategy meets AI: homebuilders gain a new edge
Whoopi Goldberg Takes Hiatus From ‘The View’ To Pursue Acting Role in Italy—After Revealing Desire To Spread Her Wings Beyond Daytime TV
Riviera Beach picks partner in $481M redevelopment plan
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131