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MIAMI-In a deal aimed at moving Biscayne Landing along, Cohen Financial has arranged a $233.5-million credit facility for the $1-billion project. Boca Developers will use the funds to refinance current debt and cover the costs of infrastructure and amenity development.

The 193-acre master-planned development will ultimately have up to 6,000 residential units, a town center with 400,000 sf of commercial space, a hotel and an Olympic training facility. The development will also feature biking and jogging paths. Biscayne Landing, rising on the waterfront on Biscayne Boulevard at NE 151 Street, is a public/private venture developed with the City of North Miami.

The credit facility, provided by an institutional investment bank, has "an initial term of two years and will allow flexibility as to how this urban development is phased," according to Cohen Financial. Kevin M. O'Grady and Daniel R. Sheehan, managing directors in Cohen's Miami office, repped Boca Developers.