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
SWFL Market Pulse: New Construction in Southwest Florida
Artemis drops $140M for assisted-living center in one of South Florida’s biggest ALF deals
Steve Ross’ $290M West Palm Beach Hilton project seeks approval but not public funds
MTV ‘The Challenge’ Champion Tyler Duckworth Found Dead in North Dakota Home
Miami orders “Animal House” Brickell condo tower to halt illegal vacation rentals
Socialist Candidates Are on the Rise—With a New, Pro-Building Platform for the Housing Crisis
Christina Haack Praises Boyfriend Chris Larocca for Sticking by Her Side After ‘Losing My Mind’ During ‘The Flip Off’ Filming
“Bit off more than they could chew”: Builders of 10-unit complex settle shoddy construction claims for $27M
Real shareholders approve REMAX acquisition, closing nears
Michael Jackson’s Daughter Paris Lifts the Lid on Childhood at Neverland Ranch—From Strict Screen Time to Earning Access to Its Attractions
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131