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Terra secures $507M construction loan for Miami Beach condo tower
The 28-story, 106-unit project at 1250 West Ave. includes private wellness and recreational amenities, plus underground parking and ground-floor retail.
Terra and partners have secured a $507M construction loan for a planned condo project in Miami Beach, according to Bisnow.
The development team includes Terra, RG Development Group, GV Development, and Lore Development, with Tyko Capital providing the financing.
The project calls for a 28-story, 106-unit condominium building at 1250 West Ave., featuring private wellness and recreational amenities, a spa and a padel court, along with underground parking and ground-floor retail.
Bisnow reported that Terra previously teamed with JDS Development, but JDS exited the project after Terra and its partners purchased the units of the 61-year-old condo tower for $120M in September 2025.