Rilea Group lands $149M multifamily construction loan in overheated Wynwood
Rilea Group landed a $149.2 million in construction financing for its planned Mohawk at Wynwood, a 300-unit apartment tower. The Miami-based real estate developer secured $124.2 million in C-PACE capital from Nuveen Green Capital and a $25 million senior loan from ABANCA USA, arranged by Javier Herrera of Franklin Street, according to a news release. The loan will cover construction of the Mohawk project slated for the 1.5-acre site at 56 Northeast 29th Street. Rilea, led by owner and CEO Alan Ojeda and President Diego Ojeda, bought the land for $22 million in 2021. The project is set to include […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Better mortgage spreads are still keeping home sales positive
111-Year-Old Connecticut Colonial With Its Own Certified Wildlife Habitat Lists for Under $850K
The Extraordinary Real Estate of the Founding Fathers Would Be Worth Hundreds of Millions Today
Yolanda Hadid’s Fiancé Is Building a Huge Master-Planned Community on Site of Industrial Ghost Town in Texas
We Have a New Second Home on Substack
Reffkin takes the stand, MRED CEO says Zillow threatened litigation over listing policy dispute
Playing With Fire: How Backyard Fireworks Celebrations Risk Costly Property Disasters
American Express and Chase move luxury lounge wars beyond the airport
The Average New-Car Payment Is Shrinking Homebuyers’ Budgets by $135,000
Lionel Messi Is Hailed as the World Cup GOAT—but His Property Portfolio Is a Real Winner, Too
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131