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$110M Construction Financing Secured for 31-Story Miami Tower
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A joint venture between institutional investors advised by J.P. Morgan Asset Management and Chicago-based Magellan Development Group secured $110.3 million in financing for the development of Midtown 6, a 31-story, mixed-use residential and retail tower in Midtown Miami. The project will include more than 397,000 square feet of residential space, as well as 40,000 square feet of ground floor retail.
Midtown 6 will be situated at 3101 NE 1st Ave., and is bounded by the Wynwood, Edgewater and Design District neighborhoods. Designed by bKL Architecture, the LEED Silver project is slated for completion in spring 2020.
HFF secured the construction loan through PNC Bank and BMO Harris Bank. HFF’s Danny Kaufman, Elliott Throne, Scott Wadler, Mike Tepedino and Jennifer Keller represented the borrower. This transaction follows construction financing that the HFF team arranged on the borrower’s behalf in 2014 for the development of the adjacent Midtown 5 tower.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

