The property asset involved in this transaction is a development site located at 2000 & 2010 North Miami Avenue and 2021 & 2025 Northwest Miami Court in the Miami market. The site spans 1.4 acres and will feature a 310-unit, 12-story construction project known as the 2000 Wynwood. The project will include 12,500 square feet of retail space and was acquired for $19.1 million in 2022.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $89,000,000
• Lender: Bank OZK & PGIM
• Loan Type: Construction & Mezzanine
• Landlord: Jenny Bernell - Clearline Real Estate

The transaction involves key individuals including Cathy Marcus, Jenny Bernell, and Raimondo Amabile, who played significant roles in securing the financing for the project. Jenny Bernell represents Clearline Real Estate in this loan agreement, which consists of $65.3 million from Bank OZK and $24 million from PGIM Real Estate.