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Florida & Gulf Coast  + Finance  |  August 13, 2019
No. 17 Residences apartments Alalpattah Miami
David Cohen
By: David Cohen

MidCap Financial Provides $24M Construction Loan for Miami’s Allapattah MF Community

MidCap Financial has provided a $24.4 million construction loan for Allapattah 17, a new 14-story, 192-unit multifamily community in Miami’s Allapattah neighborhood.

Located at 1569-1652 NW 17th Ave., the community is near Miami’s urban core, which continues to generate developer and investment interest. Allapattah is located along the burgeoning Miami River, and contains Miami’s Health District/Civic Center, including Jackson Memorial Hospital and University of Miami Hospital.

Charles Foschini, Chris Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia’s Miami office arranged the financing on behalf of Neology Development Group, a real estate development and investment firm based in Miami. Terms included a three-year, floating rate with one 12-month extension option.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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