Clara Homes locks down $80M to build third upscale rental project in waterfront town

Clara Homes scored an $80 million construction loan for its third luxury apartment building in Bay Harbor Islands.  New York-based Madison Realty Capital provided the financing for a 77-unit building at 10200-10290 East Bay Harbor Drive, CEO and Founder James Curnin said. Construction is slated to start by next month and completion is expected in the first quarter of 2028, he said.  The building is expected to cost $108 million, or $1.4 million per unit. The financing amounts $1.04 million per unit. It is the third of three buildings Clara Homes is developing with a total of 150 units in […]This article originally appeared on The Real Deal. Click here to read the full story.