David Martin Of Terra Secures $238 Million Loan For Development Site In Bay Harbor Islands

A refinancing loan of $238,000,000 has been secured for a development site located at 1160 Kane Concourse, Bay Harbor Islands, encompassing an area of 1.8 acres. This site is part of a luxury mixed-use development known as THE WELL Bay Harbor Islands, which features 66 condo residences and 102,000 square feet of office space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $238,000,000
• Lender: Eldridge Real Estate Credit
• Landlord: David Martin - Terra
• Brokers: Keith Kurland & Jordan Cassella - Walker & Dunlop
• Loan Type: Refinance
• Expected Completion: Early 2026

The deal facilitates the next phase of the luxury mixed-use project, underscoring the collaboration between Terra and Eldridge Real Estate Credit, with brokerage services provided by Keith Kurland and Jordan Cassella of Walker & Dunlop, who played a crucial role in this refinancing agreement.