High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + South Florida  + Apartments  | 

Estate Companies Secures $76M Debt on North Miami Beach Rentals

The Estate Companies (EIG) has closed on approximately $76 million in construction financing from Bank OZK for Soleste NoMi Beach, a 23-story luxury rental community with 367 units and 2,708 square feet of commercial space at 16395 Biscayne Blvd. in North Miami Beach.  Groundbreaking is slated for this quarter.

“Our hats go off to Bank OZK and all parties involved with this loan closing,” said Carlos Lopez, CFO of EIG. “It was a great execution by everyone.” 

A JLL Capital Markets team brokered the construction loan, led by Brian Gaswirth and Michael DiCosimo.

The 1.78-acre waterfront property is located on Biscayne Boulevard at 163rd Street, neighboring Harbor condominiums. The site offers easy access to the 163rd Street Causeway, which connects to US-1 and A1A and all major arteries.

EIG is nearing completion on Miami’s first large-scale opportunity zone development, Soleste Grand Central downtown.

Connect

Inside The Story

Estate CompaniesJLL’s Gaswirth

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
New call-to-action
New call-to-action