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Diego Ojeda Lands $150 Million Construction Loan For Mohawk At Wynwood In Miami

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FINANCED
$150,000,000

Florida

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Mixed-use511,290 SF
Financed 12/30/2025
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Property Image
FINANCED

Diego Ojeda Lands $150 Million Construction Loan For Mohawk At Wynwood In Miami

56 Northeast 29th Street

See Similar Deals
Mixed-use511,290 SF
Financed 12/30/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$293
Total Square Footage:511,290 SF
Transaction Type:Loan

This property asset is a mixed-use development located at 56 Northeast 29th Street in Miami, featuring 300 residential units and a total square footage of 511,290. The construction financing for this project amounts to $150 million.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $150,000,000
  • Loan Type: Construction
  • Loan Terms: 27-years
  • Lender: Nuveen Green Capital & Abanca USA
  • Landlord: Diego Ojeda
  • Broker: Javier Herrera - Franklin Street
  • Completion Year: 2028
  • Unique Features: Rooftop pools, lounges, padel courts, and 30,000 square feet of dynamic retail space

The deal involves key individuals such as Diego Ojeda, who serves as the President of Rilea Group, and Javier Herrera from Franklin Street, who arranged the financing package. The financing includes $124.2 million in C-PACE capital and a $25 million senior loan, representing the largest C-PACE-financed multifamily transaction in Florida to date.

Players

Nuveen Green Capital
Nuveen Green Capital
LENDER
Javier Herrera
Franklin Street
Javier Herrera
9 deals$389.4M volume(305) 733-1944
ORIGINATOR

Details

FINANCED
IMAGE: Diego Ojeda & Javier Herrera DATE: 12/30/2025 ADDRESS: 56 Northeast 29th Street MARKET: Miami ASSET TYPE: Mixed-use ~ UNITS: 300 ~ SF: 511,290 LENDER: Nuveen Green Capital & Abanca USA (@AbancaUSA) LANDLORD: Diego Ojeda (@RileaGroup) BROKER: Javier Herrera (@Javi_Herrera44) - Franklin Street (@FranklinStreet.CRE) LOAN AMOUNT: $150,000,000 LOAN TYPE: Construction LOAN TERMS: 27-years NOTE: Miami-based real estate developer Rilea Group has closed on a $150 million construction financing package for Mohawk at Wynwood, a 300-unit multifamily community now under construction in the heart of Miami’s Wynwood Arts District. The financing package includes $124.2 million in C-PACE capital from Nuveen Green Capital (NGC), a national leader in sustainable commercial real estate financing solutions, marking the largest C-PACE-financed multifamily transaction in the state of Florida to date, and a $25 million senior loan from Spain-based ABANCA USA, which serves as the senior secured lender for the transaction. The financing was arranged by Javier Herrera of Franklin Street. “Mohawk at Wynwood represents the next frontier of Miami living – a project that fuses punk rock, high fashion, and renegade culture into an all-brick, steel, and glass building that feels both timeless and unapologetically new,” said Diego Ojeda, President of Rilea Group. “From the widest sidewalks in Wynwood—designed for outdoor dining and pedestrian life—to rooftop pools, lounges, padel courts, and 30,000 square feet of dynamic retail, Mohawk is more than a building, it’s a movement.” Slated for completion in 2028, Mohawk at Wynwood will offer expansive studios, one-, two-, and three-bedroom residences, including lanai units with private backyards. The building’s architecture features Chicago brick, industrial steel detailing, and floor-to-ceiling glass, echoing Wynwood’s artistic and warehouse-ins

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$150,000,000.00

Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00