Terra lands $245M refi for newly built apartments as rental market muscles its way back

David Martin’s Terra landed a $245 million refinancing for a huge apartment complex it completed this summer, just as the multifamily market oversupply started balancing.  Coconut Grove-based Terra finished the first phase of Upland Park with 578 units this summer, as part of the firm’s wager on garden-style complexes near public transit. It’s on a 47-acre site at 1455 Northwest 121st Avenue in Sweetwater, and near both the Miami-Dade County’s Dolphin Station Park & Ride Transit Terminal and the Dolphin Expressway/State Road 836. Terra leases the land from Miami-Dade County.  Slate Property Group, based in New York, provided the permanent […]

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