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A 24-story multifamily tower rising in Miami’s Art & Entertainment District just locked down nearly $95 million in financing.
The developers behind Excel Miami, now under construction at 1550 NE Miami Place, secured two loans: a $68.5 million senior construction loan from Centennial Bank and a $26 million from Southern Realty Trust Inc.
Excel Miami is being developed by Clearline Real Estate, a real estate investor and builder led by founder Jenny Bernell, with designs by architecture firm Arquitectonica.
Once finished, the transit-adjacent project will total 214,183 rentable square feet spanning 427 studio, one-bedroom, two-bedroom and townhouse units, plus myriad amenities.
– Jesse Scheckner, Florida Politics