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Andrew Rasken Of META Development Secures $18.5 Million Loan For Colette Residences In Miami

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FINANCED
$18,500,000

Florida

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Development Site
Financed 04/28/2026
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FINANCED

Andrew Rasken Of META Development Secures $18.5 Million Loan For Colette Residences In Miami

1880 Brickell Avenue

See Similar Deals
Development Site
Financed 04/28/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The asset involved is a development site located at 1880 Brickell Avenue, Miami, consisting of 0.8 acres. Meta Development secured a loan amount of $18.5 million to facilitate pre-development work for the planned Colette Residences condo project, which will feature 38 luxury units with prices starting at $3.3 million and is anticipated for completion in 2028.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,500,000
  • Address: 1880 Brickell Avenue
  • Market: Miami
  • Landlord: Andrew Rasken - META Development
  • Lender: BridgeCity Capital

Andrew Rasken represents META Development in this transaction. The project is part of a larger expansion effort by the firm in Miami, which includes the ongoing construction of the Opus condo project in Coconut Grove.

Players

BridgeCity Capital
BridgeCity Capital
LENDER
Andrew Rasken
META Development
Andrew Rasken
3 deals$56.5M volume
LANDLORD

Details

FINANCED
IMAGE: Andrew Rasken DATE: 04/28/2026 ADDRESS: 1880 Brickell Avenue MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 0.8 LENDER: BridgeCity Capital LANDLORD: Andrew Rasken - META Development (@MetaDevelopmen.US) LOAN AMOUNT: $18,500,000 NOTE: Meta Development completed its 0.8-acre assemblage at 1870–1880 Brickell Avenue in Miami and secured an $18.5 million loan to fund pre-development work for its planned Colette Residences condo project.The 38-unit luxury development, with prices starting at $3.3 million and completion targeted for 2028, follows the firm’s broader Miami expansion that also includes the under-construction Opus condo in Coconut Grove.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,500,000.00

Monthly NOI$123,333.33
Monthly Debt Service$116,932.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00