The asset involved in the transaction is a development site located at 110 Northwest 10th Street in the Miami market. The site is the future home of the 67-story JEM Private Residences tower, which is currently under construction and has surpassed its sixth floor. This project is noted for being Florida’s largest C-PACE-financed multifamily development to date, with a total loan amount of $465,000,000 allocated for construction financing.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $465,000,000
• Loan Amount: $465,000,000
• Loan Type: Construction
• Address: 110 Northwest 10th Street
• Market: Miami
• Lender: Alexandra Cooley - Nuveen Green Capital; Ilana Druyan - Bank Hapoalim (BHI)
• Landlord: Miki Naftali - Naftali Group
• C-PACE Funding: $235,000,000 from Nuveen Green Capital
• Construction Loans: $230,000,000 from Bank Hapoalim
• Project Completion: Scheduled for Q4 2027
• Recent Sales: Included an $8,000,000 Sky Villa purchase

The deal features key individuals such as Alexandra Cooley and Ilana Druyan, representing Nuveen Green Capital and Bank Hapoalim (BHI) respectively as lenders. Miki Naftali serves as the landlord through his company, the Naftali Group. The construction financing secured for this project reflects the strong market demand in Miami, bolstered by ongoing sales strategies that are yielding positive results.