Evolve Companies Secures $48.5 Million Construction Loan From Genesis Capital For 141-Unit Project

The property asset involved in the context is a multifamily development located at 535 Northwest 35th Street, Miami. The project encompasses 141 residential units and is designated for construction financing with a loan amount of $48,500,000. This eight-story development aims to enhance the housing landscape with luxury units and amenities in the growing Wynwood area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $48,500,000
• Lender: Genesis Capital
• Landlord: Mike Winstead Jr. & Joe McKinney - Evolve Companies
• Broker: Chris Hammel - NorthMarq
• Units: 141
• Market: Miami
• Loan Type: Construction

Evolve Companies, represented by Mike Winstead Jr. and Joe McKinney, secured the construction loan with the assistance of broker Chris Hammel from NorthMarq. The funding through Genesis Capital will support the development of the Evolve Wynwood 35 apartment project, which is expected to be completed in 2028, further expanding Evolve's multifamily presence in the Southeast region.