Terra Group LLC president David Martin in Miami.
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Terra Group LLC obtained $185 million to build its twin-tower Summerhill apartments, the developer's latest high-end project in Miami's Coconut Grove.
The 20-story towers will include ground-floor retail, 32,160 square feet of office space and a 574-space pedestal garage, according to plans submitted to the city last year. The site is a 1.5-acre lot from Tigertail Avenue to Bayshore Drive and near Southwest 27th Avenue.
The construction loan, which closed Friday, came from Mack Real Estate Credit Strategies, the Real Deal reported. The company is part of the New York-based Mack Real Estate Group led by Richard Mack.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
