13th Floor Homes And Barings Secures $134 Million Construction Loan For Crescendo In Miami

The property asset involved is a development site located at 3070 Southwest 37th Avenue in Miami, FL, encompassing 7.0 acres. The loan amount secured for this project is $134,000,000, designated for construction purposes. The asset is part of the Crescendo project, which includes a 37-story, 392-unit tower as the final phase of the larger Link at Douglas transit-oriented development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $134,000,000
• Address: 3070 Southwest 37th Avenue
• Market: Miami, FL
• Lender: Santander Bank, TD Bank, & First Horizon Bank
• Landlord: Arnaud Karsenti - 13th Floor Homes; Mike Freno & Chris Cassella - Barings
• Completion Year: 2029
• Infrastructure Investment: More than $17 million

The key individuals and companies involved in the deal include Arnaud Karsenti, representing 13th Floor Homes, and Mike Freno along with Chris Cassella representing Barings. Together, they are set to transform publicly owned land into a mixed-use community that will serve as a housing, retail, and transit hub next to the Douglas Road Metrorail Station, marking a significant investment in the local infrastructure.