Forth, MICL land financing for Miami condos as short-term rentals appeal to investors

Forth Development and MICL landed financing for their planned Botanic Residences development, a short-term rental-friendly condo in Miami.  The developers secured a $17 million construction loan for the 8-story, 51-unit project slated for 758 Northwest 2nd Street, according to a news release. Arixa Capital Advisors provided the financing, according to property records. JLL’s Max La Cava and Pier Barinci represented the developers in the transaction, which closed earlier this month, records show. Designed by Carl Levin Architect + Design, Botanic Residences will have a rooftop pool, fitness center and co-working spaces, according to the release. The units will come fully […]This article originally appeared on The Real Deal. Click here to read the full story.