Codina Takes Ownership of Doral’s Palma Tower Pair

Codina Partners closed on a refinancing deal that has made it the sole owner of Palma Tower One, the first tower in the Palma Tower complex in Downtown Doral. The $124 million loan, with an account advised by HPS Investment Partners as the lender, grants Codina Partners full control over the entire Palma Tower complex, which consists of two residential towers.

Palma Tower One, completed in 2019, features 231 residential units and was the first ever high-rise multi-family lifestyle complex in Downtown Doral—a 250-acre mixed-use development in the City of Doral. Codina Partners previously co-owned Tower One with Invesco, while solely owning Tower Two, which was completed in 2023 and houses 228 units.

The loan was arranged by JLL’s Paul Stasaitis.

Amenities found throughout both buildings are a pool deck, fitness center with indoor courts, movie theater, sauna, office pods, conference room, resident lounge, game room, and more.