Clearline Real Estate has secured $94.5 million in construction loans for Excel Miami, a 24-story multifamily tower under construction at 1550 NE Miami Place in Miami’s Art & Entertainment District.
The loans include:
Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction.
Southern Realty Trust announced that it originated and an affiliate of SRT agented a $26 million subordinate loan.
Clearline Real Estate is headquartered in New York and Miami and focuses on multifamily real estate investments across growing U.S. regions.
Excel Miami Apartments will total 214,183 rentable square feet, with 427 apartments offering studio, one-bedroom and two-bedroom units and 13 townhouse loft units. The building’s amenity floor will feature 18-foot ceilings and include a pool, yoga deck, fitness room, co-working space, screening room and podcast suites. Located near the Me
