One Miami, a waterfront development, will be the biggest residential project in downtown Miami. It will feature 896 residences in two towers reaching 44 and 45 stories. As of press time, the development was more than 90% sold.
The project is serving as a catalyst for the several thousand units planned for development in the downtown area in three to five years.
"This is an extremely positive step for development in South Florida and downtown Miami, in particular," Jorge Perez, CEO of Related Group of Florida, says in a statement. "The size and magnitude of the loan clearly convey the importance of the project and its role in the urban renewal process of the area."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
