Newmark Secures $35.5M Loan For Property Acquisition
The loan was secured as part of a multifamily property purchase by a joint venture between Angelo Gordon and Mast Capital.
The loan was secured as part of a multifamily property purchase by a joint venture between Angelo Gordon and Mast Capital.
The property comprises four conjoined lots being sold together, which are all zoned T6-8-O NRD-1, allowing up to 8 stories by right and 12 stories with bonuses of mixed-use infill development. Under this zoning, the property can be developed into up to 207 units (310 with bonuses) or licensed for up to 414 hotel keys.
Calum Weaver, Robert Given, Zach Sackley, Troy Ballard and Garrett Pordes of Cushman & Wakefield will oversee marketing efforts.
The Miami office, focused on multifamily/mixed-use, multitenant retail, and single tenant net lease property sales, will be led by Managing Director, Kirk Felici, who has more than 20 years of commercial real estate experience.
Butters Construction & Development and Greystar will develop Miami Midway Park, a 45.1-acre site at NW 97th Avenue and NW 170th Street in Hialeah Gardens.
The properties are located within the cities of Pompano Beach, Ft. Lauderdale, Hollywood, Miami Gardens, Opa Locka, Miami, and Homestead, Florida.
The project will feature a 64-story apartment tower comprising 1,175 units, as well as 190,000 square feet of office space, a 200-room hotel, 10,000 square feet of retail space and 1,400 parking spaces.
The main event will be Wednesday, January 13th from 9 am to 12 noon via Zoom.
The newly constructed apartment building includes nearly 27,000 square feet of ground floor retail space.
He will be responsible for the managing, leasing, and operations of a multi-million square foot portfolio and leading the company’s property management team.
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