Rockpoint secured $58.9 million from Berkadia for a 603,516-square-foot mixed-use building in Miami’s Wynwood neighborhood, property records show.
The balloon loan covers the Strata, which features 257 apartments, 60,300 square feet of creative office space, 27,040 square feet of ground-floor retail and 474 parking spaces. The eight-story building sits just south of the Oasis mixed-use development at 2201 North Miami Avenue.
Source: Commercial Observer
Mast Capital, in partnership with Rockpoint, is underway on a nine-story, 178-unit multifamily development located at 3900 Alton Road in Miami Beach.
Designed by Arquitectonica, the unnamed apartment community will consist of units ranging from studios to three-bedroom apartments sized from 560 square feet to 1,410 square feet.
Amenities will include an elevated pool deck, barbecue area, outdoor gaming area, fitness and yoga studio, resident lounge, coworking spaces and a pet washing station.
After securing a $64 million construction loan from PNC Bank in Nov. 2022, Mast Capital and Rockpoint broke ground on the development in February 2023 and plan to open the community by fall 2024.
Source: RE Business