One Park Tower By Turnberry Secures $172M Construction Loan Facilitated By Berkadia
Scott Wadler and Alec Fox, along with Mitch Sinberg and Brad Williamson and Matt Robbins of Berkadia South Florida, secured the $172 million loan from Bank OZK.
Scott Wadler and Alec Fox, along with Mitch Sinberg and Brad Williamson and Matt Robbins of Berkadia South Florida, secured the $172 million loan from Bank OZK.
The nonprofit has retained Transwestern to provide Asset Services for the 5-story, 30,000-square-foot building.
Setting a new record for a single tower, residential construction loan at $600 million, Mast Capital continues to redefine boundaries with their 80-story Cipriani-branded condominium development, slated to break ground on Tuesday.
The office with retail component including a rooftop venue will bring sophisticated work/play experiences to Coral Gables’ Merrick Park district. Groundbreaking is scheduled for Q4 2023 with completion in 2025.
The destination, slated for completion in 2026, is set to deliver the first major mixed-use and true pedestrian-friendly city center to Hallandale Beach.
Oasis Hallandale is also home to a commercial district with more than 59,000 square feet of retail and restaurant space, 35,000 square feet of office space and nearly 1,500 parking spaces.
The tenant is doubling its office space, adding a second floor to its previous lease at the mixed-use development, bringing the company’s total footprint to about 37,000 square feet.
The loan will allow the developer to ready its 6-acre waterfront site for its slated summer 2023 groundbreaking.
Knotel, a flexible workspace platform founded in 2015 in New York, is slated to occupy the entire 46,072-square-foot property.
Formerly an industrial building, the stand-alone property has been fully converted for office and restaurant use and features a rooftop terrace.
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