Developers Secure $34 Million From Bank OZK To Begin Construction On 66-Story One River Point In Downtown Miami

8:00 am on January 8, 2023 By Oscar Nunez

One River Point Partners, LLC, a joint venture partnership between New York’s KAR Properties and Miami’s Fortune International Group, has secured a $34 million loan to initiate the first phase of construction on One River Point, a twin-towered 66-story residential development planned for 24 Southwest 4th Street in Downtown Miami. Designed by the star architect Rafael Viñoly of Rafael Viñoly Architects, the pair of connected towers will contain a combined 368 condominium units, and sit immediately north of the Miami River. The property will enjoy a desirable location in the city’s epicenter being just minutes away from luxury retail shopping and entertainment areas as well as the major transportation hubs, the Port of Miami, Miami International Airport, and cultural landmarks such as the Adrienne Arsht Center and Perez Art Museum.

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Red Apple Real Estate Secures $252 Million In Financing, Vertical Construction For St. Petersburg’s Tallest Building To Commence In March 2023

8:00 am on January 7, 2023 By Oscar Nunez

Red Apple Real Estate has secured $252 million in financing for The Residences at 400 Central, a 46-story mixed-use building under construction at 400 Central Avenue in downtown St. Petersburg. Designed by Arquitectonica with WSP as the structural engineer and featuring interiors by Celano Design Studio, The Residences at 400 Central will become the tallest building in the city and on the gulf coast at approximately 515 feet, yielding 1.3 million square feet of space including 301 luxury condominiums with views of Tampa Bay and the Gulf of Mexico, retail and restaurant space, and upwards of 40,000 square feet of Class A office space. Suffolk Construction is the general contractor for the project, which is scheduled to go vertical in March 2023. 

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Related Group Nabs $164 Million Construction Loan For 506-Unit Rental Tower In Brickell

8:00 am on January 6, 2023 By Oscar Nunez

Charlotte, NC-based Truist Bank has issued a $164 million construction loan to Miami’s acclaimed condo king, the Related Group, for the first of three skyscrapers slated for a prime 3.9-acre development site along Brickell Avenue, south of the Miami River. Commonly referred to as One Brickell Tower II, the 47-story structure is reportedly planned to rise approximately 478 feet at 77 Southeast 5th Street and yield 506 rental apartments. Arquitectonica is the architect for the entire mixed-use development, which includes the planned 75-story Baccarat Residences Miami and an 82-story hotel and residential tower. John Moriarty & Associates is the general contractor for the tower, which is expected to begin construction next month.

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