Wynwood Development Assemblage Trades For $33.5M
The deal was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors.
The deal was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors.
Adam Marcuvitz, Joseph P. Thomas and Alec Demetriou, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller in the transaction.
Evan Kristol along with Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller and procured the buyer.
The financing package includes $124.2 million in C-PACE capital from Nuveen Green Capital (NGC), marking the largest C-PACE-financed multifamily transaction in the state of Florida to date.
Jonathan De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, represented the sellers in the transaction.
Cushman & Wakefield’s Scott O’Donnell, Deme Mekras, Miguel Alcivar, Greg Miller and Mike Ciadella represented iHeart in the transaction.
Construction on the project, located at 125 SW 8th St., will commence before year end.
The development offers 58 bespoke two- to five-bedroom residences, ranging from 1,900 to more than 6,500 square feet, as well as 25,000 square feet of curated retail anchored by a world-class restaurant.
The assemblage consists of 11 contiguous parcels spanning block to block from W. Flagler Street to SW 1st Street.
The 3.23-acre multifamily development site is located at 11240 Biscayne Blvd.
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