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Deutsche Bank provides $85M construction loan for Miami Beach condo tower

The 12-story project at 7200 Collins Avenue will include 222 units and ground-floor retail, with 96% of units under contract at closing.

Reported · Written up by our desk · Residential

Northlink Capital has secured $85 million of construction financing to develop a Miami Beach luxury condominium project, with Deutsche Bank providing the loan, Commercial Observer reports.

The financing will refinance past debt and fund ground-up construction of a 12-story condo tower at 7200 Collins Avenue in the North Beach neighborhood.

Arrow Real Estate Advisors arranged the transaction, with the project set to total 274,150 square feet and deliver 222 units ranging from studios to two-bedrooms.

Amenities are expected to include a beach club, swimming pool, fitness center, and rooftop sundecks, plus ground-floor retail, and Arrow’s Morris Betesh said 96% of units were under contract at closing.

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