The loan, provided by Mexico-based Banco Inbursa, will fund the ongoing development of the 12-story project, which will encompass 146 turn-key residences and 11,000 square feet of retail.
Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matt Robbins, and Vice President Hugo Hernandez of Berkadia Miami and Boca Raton secured the financing on behalf of the multifamily owner/operator.
The property is currently available for sale or joint venture partnership, represented exclusively by Michael D. Hinton, CCIM, of Lee & Associates South Florida.
Kripalani and Fernandez join C&W from Colliers.
Armando Codina, Executive Chairman of Codina Partners, has just listed his Coral Gables estate for more than $45 million as he is preparing to move into the top floor.
Midtown Park Residences’ prices start in the lower $600,000s and is expected to be completed in 2028.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Jesse Wright and Director Joshua Odessky.
The 110-unit development will be located at 1136 SW 3rd Avenue.
At full build-out, Midtown Park will feature six towers, including four residential buildings and two office structures.
Located at 7909–7911 East Drive, the site spans 23,707 square feet and is currently occupied by two older residential buildings totaling 29 units.
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