Clearline Real Estate Secures $94.5 Million Construction Loan For 427-Unit Multifamily Tower In Miami

Excel Miami is a contemporary 24-story multifamily tower located at 1550 Northeast Miami Place in the Miami market, featuring 427 units. The property is situated in Miami’s Arts & Entertainment District and is designed by Arquitectonica, incorporating modern residences and upscale amenities with transit-friendly access near the Metromover School Board Station.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $94,500,000
• Loan Amount: $68,500,000 (Senior Loan from Centennial Bank)
• Additional Loan Amount: $26,000,000 (From Southern Realty Trust)
• Lender: Jay Brito - Centennial Bank
• Lender: Stuart Swann - Southern Realty Trust
• Landlord: Jenny Bernell - Clearline Real Estate

Clearline Real Estate secured a total of $94.5 million in construction loans for the development of Excel Miami, highlighting the involvement of key lenders in the transaction. The primary representatives in the deal include Jay Brito from Centennial Bank and Stuart Swann from Southern Realty Trust, who facilitated the financing needed for this multifamily project.