Rilea Group lands $149M multifamily construction loan in overheated Wynwood

Rilea Group landed a $149.2 million in construction financing for its planned Mohawk at Wynwood, a 300-unit apartment tower. The Miami-based real estate developer secured $124.2 million in C-PACE capital from Nuveen Green Capital and a $25 million senior loan from ABANCA USA, arranged by Javier Herrera of Franklin Street, according to a news release. The loan will cover construction of the Mohawk project slated for the 1.5-acre site at 56 Northeast 29th Street. Rilea, led by owner and CEO Alan Ojeda and President Diego Ojeda, bought the land for $22 million in 2021. The project is set to include […]This article originally appeared on The Real Deal. Click here to read the full story.