North Development secured a combined $220 million in C-PACE (Commercial Property Clean Assessed Energy) and mortgage construction financing for the development of Domus Brickell Center. North says the financing is the largest ground-up C-PACE construction loan in South Florida to date.
Bayview PACE structured approximately $180 million in financing, while Core Capital provided an additional $40 million in financing.
Located at 1034 SW 2nd Ave in the heart of Miami’s Brickell neighborhood, Domus Brickell Center will rise 35 stories and will deliver 579 residences, ranging from a studio to two bedrooms. Designed by Studio MC + G Architecture, residences in Domus Brickell Center come fully finished. Domus Brickell Center’s amenity suite includes a rooftop pool and sky deck with cabanas and daybeds, a rooftop bar, a hot tub, and a rooftop yoga deck, as well as an indoor-outdoor gym, a lounge, co-working spaces and a conference room, on-call housekeeping, and a signature lounge and an on-site restaurant on the lobby level.
The post North Development Lands $220M C-PACE Loan for Miami Residences appeared first on Connect CRE.
