Jordan Todd of United Realty Group represented Universal Chillers. Michael Waite and James Armstrong IV of The Easton Group represented the landlord, Seagis Property Group. Ronald Marrero of Seagis also worked on the deal.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
The approved plans included 180 residential units, 70 hotel rooms and 9,508 square feet of ground-floor retail.
VSRE has also been contracted to develop apartment buildings, retail, and offices.
The residential community will cater to residents earning up to 60% of the area’s median income.
The Miami-based developer is building the five-story project on a 2.1-acre property at 13800 NW 22nd Ave.
With Togal.AI’s award-winning technology, Coastal Construction teams cut nearly 14,000 hours of work, saving close to $1 million in their first year using it.
The development property consists of office, multifamily and retail elements.
A study predicts 45% to 50% increases in Florida, including in inland areas — and a doubling of premiums won’t be out of the question.
The assembly – consisting of three parcels located at 1120, 1130 and 1136 SW 3rd Avenue in Miami – were purchased for a total acquisition price of $8,500,000.
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