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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.
- ◦Development
- ◦Financing

