Berkadia has announced the successful arrangement of a $73.27 million construction loan on behalf of Fortune International Group and Blue Road to complete Nexo Residences, a 16-story short-term rental condominium tower underway in North Miami Beach. The property will feature 254 fully furnished residences with a flexible ownership model and an EB-5 investment component.
Plans are in the works for a mixed-use development that will replace Bradenton City Hall in Manatee County.
Bricka CB Development, a joint venture between Bricka Real Estate and CB Development, has proposed Rio Vista Apartments, a 10-story multifamily project near the Miami River. The development is planned for four parcels at 413, 421, 431, and 453 NW 3rd Street, on the northern edge of the Lummus Park Historic District, near the boundary of Overtown and Downtown Miami.
A South Florida-based developer hopes to get approval for a for-sale townhome complex in Palm Beach County. Hibiscus Gardens would comprise 48 townhomes in nine buildings.
A 22-story residential tower is being proposed for 7501 and 7553 NE 2nd Avenue in Miami’s Little River neighborhood. Filed under the Live Local Act, the project is being developed by Midtown Capital Partners under the NE 2 LR, LLC, and designed by Coral Gables-based Corwil Architects. The site comprises two parcels totaling 57,642 square feet, or approximately 1.32 acres, and is currently occupied by old structures that will be demolished.
