Investment Group Inks $125M Construction Loan for Miami Design District Office/Retail Project

Miami Design District Associates and Raycliff Capital broke ground on an office/retail project in the Miami Design District. The S. Florida Business Journal reports that the group began work on the project soon after securing a $125 million construction loan. Credit Agricole Corporate and Investment Bank, acting on behalf of a group of lenders, granted the mortgage.

The eight-story building will feature 92,000 square feet of office space and 22,500 square feet of ground-floor retail. The neighboring Museum Garage will provide the parking spaces for the project.

Norway-based Snøhetta is designing the project It’s work includes the Bibliotheca Alexandrina in Egypt, the Norwegian National Opera and Ballet, and the National September 11 Memorial Museum Pavilion in New York. Kast Construction is serving as the general contractor.