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Arrow Arranges $85M Loan for 222-Unit Miami Beach Condo Tower
The $85 million Deutsche Bank construction loan will refinance existing debt and fund ground-up development at 7200 Collins Avenue through completion.
Arrow Real Estate Advisors arranged an $85 million construction loan for Northlink Capital tied to a 222-unit luxury condominium project at 7200 Collins Avenue in Miami Beach, Florida, according to ConnectCRE.
The financing is provided by Deutsche Bank and will refinance existing debt and support the ground-up build of a 12-story, 274,150-square-foot residential tower through completion.
The project will be located at the intersection of Collins Avenue and 72nd Street in Miami Beach’s North Beach neighborhood, and it will include studio, one, and two-bedroom residences averaging about 489 square feet.
Amenities are planned across three levels, including the 7200 Collins Beach Club, a swimming pool, fitness center, ground-floor retail and food and beverage space, and landscaped rooftop sundecks. Arrow Real Estate Advisors principals Morris Betesh, Alex Bailkin, and Matt O’Hanlon arranged the financing. Approximately 81% of the residences are priced below $1 million.