Crescent Heights scores $238M refi for luxury 588-unit apartment tower in Edgewater

Crescent Heights scored a $238.4 million refinancing for the luxury 588-unit Forma Miami apartment tower in Edgewater.  The deal marks a continuing lending flurry in South Florida, despite elevated interest rates.  Crescent Heights –– led by Russell Galbut, Sonny Kahn and Bruce Menin –– completed the 40-story Forma at 2900 Biscayne Boulevard in Miami last year, according to records. It includes 85,000 square feet of indoor and outdoor amenities and a 50,000-square-foot Whole Foods Market.  The fixed-rate refinancing was provided via Freddie Mac’s Lease-up program, according to a Walker & Dunlop news release. Aaron Appel and Jonathan Schwartz were part […]This article originally appeared on The Real Deal. Click here to read the full story.