Codina Partners Tops Out 405-Unit Sevilla at Downtown Doral With $100M Regions Bank Loan

   Key Points

• Codina Partners tops out 405-unit Sevilla at Downtown Doral on a 4.2-acre site
• $100M construction loan led by Regions Bank with Ocean Bank participation
• Delivery set for 2027 as Doral multifamily pipeline expands

405 Units Rise at 5335 NW 52nd Terrace in Downtown Doral

Codina Partners has officially topped out Sevilla, a seven-story, 405-unit multifamily development within the 250-acre Downtown Doral master plan. The project marks another vertical milestone for one of Miami-Dade’s most established mixed-use communities.

What the Topping Off Means for Downtown Doral’s Growth

What the $100M Construction Loan Signals for Capital Markets

To fund construction, Codina Partners secured a $100 million loan from Regions Bank, which covered 65 percent of the capital stack, alongside Ocean Bank at 35 percent. That structure underscores continued lender confidence in stabilized master planned communities across South Florida. Well-located, amenity-rich multifamily in established nodes like Doral continues to attract financing despite broader market caution. Sevilla will also sit one block from UHealth’s 150,000 square foot ambulatory center, adding healthcare-driven foot traffic and employment density to the area.

What This Means for Multifamily Investors in Doral

Pre-leasing is expected to begin in late 2026, with phased delivery starting in Q1 2027 and full completion by Q3 2027. Downtown Doral has evolved into a self contained live work environment with retail, dining, office, and residential components. Sevilla adds scale to that ecosystem while reinforcing Codina’s vertically integrated platform through its in-house multifamily management division. For landlords and brokers, the takeaway is clear. Institutional quality rental product in master planned South Florida communities continues moving forward with strong lender backing and long-term demand drivers in place.