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Florida & Gulf Coast  + Florida  |  September 17, 2019
David Cohen
By: David Cohen

PMG Secures $162M Construction Loan for Downtown Miami MXU Project

National real estate development firm PMG, in partnership with Greybrook Realty Partners, has secured a $161.5 million construction loan for 400 Biscayne, a 49-story mixed-use project in Miami. The loan will offer financing for the development of the project, which broke ground in June.

Slated for completion in 2021, the one-million square-foot 400 Biscayne project will include 646 residential units, 51,000 square feet of commercial space and a 22,000-square-foot redesigned First United Methodist Church of Miami. Amenities will include a public lobby lounge and restaurant, co-working spaces, modern gym and fitness studio and pool deck and outdoor lounge.

Luis Flores of Saul Ewing Arnstein & Lehr attorneys represented PMG and Greybrook in the transaction. Financing was provided by Centennial Bank and Square Mile Capital.

 

 

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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