Canyon Partners Real Estate has provided a $123.8 million senior loan to ACRE, a global real estate private equity firm, for the development of a class A residential community in Miami.
Adela on the Park will comprise 337 residential units totaling approximately 282,611 rentable square feet, along with 6,000 square feet of ground-floor retail and 522 parking spaces. Units will feature modern floor plans with luxury finishes, including quartz countertops, stainless steel appliances, and private balconies. The property will offer a full amenity package, including a rooftop pool deck, clubroom, co-working spaces and a state-of-the-art fitness center.
The project represents the second phase of a larger residential development, following the successful delivery of Adela at MiMO Bay, a 236-unit adjacent community completed in 2020. The new phase will expand the existing footprint with additional units and enhanced amenities, further establishing a cohesive residential offeri
