Okan scores $200M C-PACE loan for downtown Miami condo-hotel tower
Turkish developer Okan Group scored $200 million in C-PACE financing for its Hilton-branded condo-hotel tower under construction in downtown Miami. The lender is Coral Gables-based Bayview PACE. C-PACE stands for Commercial Property Assessed Clean Energy, which encourages the use of energy efficient and sustainable materials and design. Bayview PACE’s recent deals include $180 million in C-PACE debt provided for North Development’s Domus Brickell Center. Okan, a planned 70-story mixed-use high-rise at 555 North Miami Avenue, is on the 40th floor of construction. The building will be 903 feet tall once completed in 2028, according to a news release. When completed, […]This article originally appeared on The Real Deal. Click here to read the full story.
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