Mast Capital, Starwood Capital Group Secure $400 Million Construction Loan For Ultra-Luxury Condominium
Currently starting at just over $10 million, over 75% of residences are already sold.
Currently starting at just over $10 million, over 75% of residences are already sold.
Avalon Merrick Park offers a variety of floorplans ranging from studios, one-, two-, and three-bedroom apartments spanning from 456 to 1,530 square feet in size.
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 second phase will consist of 342 rental units on a 2.7-acre development site with over 400 feet of unobstructed water frontage along the Miami River.
Mast Capital submitted site plans for a master-development totaling 2.6 million square feet.
The loan was secured as part of a multifamily property purchase by a joint venture between Angelo Gordon and Mast Capital.
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