The floating-rate bridge loan will be used to refinance the property’s existing construction financing and fund remaining completion costs for the project, which topped out in October 2025 and is expected to deliver in mid-2026.
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.
Completed in 2024 at 1765 N. Miami Avenue, Wynwood Haus is a 20-story property located at the entrance of Wynwood and offers studios, one- and two bedroom-units, along with 6,824 square feet of ground floor retail.
Grover Corlew anticipates immediately breaking ground with completion expected by May 2027.
The property is currently 100% occupied and has historically operated at full occupancy during Urban Street Development’s ownership.
The property, which launched in late 2021 and is now more than 95-percent sold, is currently under construction and is expected to complete in early 2028.
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.
Roberto Pesant, Jaret Turkell, Yoav Yuhjtman, Jose Mota, and Omar Morales of Berkadia South Florida led the $24.6 million sale on behalf of the seller. Mitch Sinberg, Brad Williamson, Matt Robbins and Scott Wadler secured $14.76 million in acquisition financing through a bank on behalf of the buyer.
“This asset is a unique rental loft unlike any other rental property, with high ceilings and an open layout, and excellent Opportunity Zone location,” said Williamson. “Berkadia was able to structure fixed-rate debt with full-term interest-only to mirror the sponsor’s business plan. The Forge Lofts are a great addition to this growing neighborhood.”
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.
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