Alta Development is developing River District 14 on a 1.3-acre site at 1420 NW 14th Ave., near the Miami River. Construction is expected to begin before the end of the year.
Forman Capital’s Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of the borrower/sponsor. Jay Miller, Spencer Miller and Noah Rothman of BayBridge Real Estate Capital brokered the financing. The transaction closed on August 29.
Robert Kaplan and Mark Rutherford of Cushman & Wakefield secured the financing through Forman Capital and Core Capital on behalf of the developer North Development, a joint venture between Miami-based Oak Development, led by veteran developer Ricardo Dunin, and Peru-based Edifica.
Located at the corner of SW 336th Street and SW 142nd Avenue, the project, known as Racetrack Toy Collection, comprises two single-story buildings totaling 69,681 square feet.
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