Clearline Obtains $94.5M Loan for Miami Apartments

Compass
Nov 19, 2024

Excel Miami multifamily tower under construction in the Art & Entertainment District, featuring modern design and luxury amenities.

$94.5 million in construction loans have been secured for Excel Miami, a 24-story multifamily tower under construction at 1550 NE Miami Place in Miami’s Art & Entertainment District. The developer is Clearline Real Estate.

The loans include: 

  • Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction. 
  • Southern Realty Trust Inc. originated a $26.0 million subordinate loan.

The development was designed by architect Arquitectonica. The Project will total 214,183 rentable square feet, with 427 apartments offering studio, one-bedroom, two-bedroom and 13 townhouse loft units. The building’s amenity floor will feature 18’ ceilings and includes a pool, yoga deck, fitness room, co-working space, screening room, and podcast suites.

Founded by Jenny Bernell, Clearline is a 100% woman-owned company, headquartered in New York and Miami. Prior to forming Clearline, Bernell served as Executive Vice President at Kushner Companies, where she oversaw the company’s mixed-use development pipeline. 

The post Clearline Obtains $94.5M Loan for Miami Apartments appeared first on Connect CRE.

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GoCommercial Group is a real estate team affiliated with Compass. Compass Florida, LLC D/B/A Compass is a licensed real estate broker and abides by equal housing opportunity laws. All rights reserved.
BRAD KUSKIN is a licensed Broker Associate in the State of Florida with License #BK3333122:

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