Oak Row Equities has closed on a $181 million construction loan from Bank OZK for a mixed-use office, multifamily and retail tower it is developing in Miami's Edgewater neighborhood.
Newmark's Dustin Stolly and Jordan Roeschlaub, Chris Kramer and Daniel Matz arranged the financing, which Oak Row says is one of the largest loans secured for a mixed-use development in the region for the past year. The office and retail components of the tower, located at 2600 Biscayne, have been 50% pre-leased prior to breaking ground, which Oak Row claims is another record.
Oak Row acquired the land at 2600 Biscayne in an off-market transaction along with additional density from an adjacent site. The project sits on an entire city block and is located within an opportunity zone. It is also one block from the planned Northeast Corridor rail stop.
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