Alta Development's Miami condo project has gotten a $77.8 million construction loan so it could start breaking the ground for the 1.3-acre site.
River District 14 will feature two 16-story buildings with 283 units. The condos will be fully furnished and be available in one or two bedrooms. They will cost between $500,000 and $1 million. Plus, buyers can lease their units on a home-sharing platform, or by using a rental program.
Forman Capital provided the loan to River North Property Owner LLC, a unit of Alta's principal and founder, Henry Pino.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.
