Resident scores $114M refi for 279-unit apartment tower in Edgewater
Resident Group scored a $113.8 million refinancing for its 279-unit Metro Edgewater apartment tower. The deal marks a continuing lending boom in South Florida, despite elevated interest rates. Miami-based Resident Group –– a partnership among Camino Capital Management, Lujeni, Korner and Building Block Realty –– completed the 32-story tower at 452 Northeast 31st Street in Miami in 2023, according to records. The partners rebranded under Resident Group. The refinancing is a Federal Housing Administration-insured loan secured through the U.S. Department of Housing and Urban Development, according to a JLL news release. The FHA-backed loans generally have fixed interest rates and […]This article originally appeared on The Real Deal. Click here to read the full story.
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