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R&B Realty Secures $76M Bridge Loan for Wynwood MXU Project
New York-based real estate management, leasing and construction company R&B Realty has secured a $76 million bridge loan for the construction of Gateway at Wynwood, a Class A office and retail complex in Miami’s Wynwood submarket.
Designed by architect Kobi Karp, Gateway at Wynwood will consist of 220,000 square feet of office space and 25,900 square feet of retail. R&B Group assembled the development site for Gateway at Wynwood through a series of acquisitions in 2016. Vertical construction is expected to commence shortly, with the project slated to open in the second half of 2021.
Charles Foschini of Berkadia brokered the financing on behalf of R&B through lender 3650 REIT.
“R&B Realty is a long-term client with extraordinary vision and a track record for success. 3650’s local market expertise and single-source loans made it the ideal lender for this exciting project,” said Foschini, senior managing director at Berkadia.
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