When traditional lending options dry up, it’s good to have contacts with one of the world’s biggest investment banking firms. Developer Codina Partners has tapped Goldman Sachs to secure a $115 million construction loan for a Coral Gables apartment project. The S. Florida Business Journal reports Codina contributed $75 million in equity to the Regency Parc project.
Located on the 1.75-acre site at 2601 Salzedo St., the 18-story Regency Parc will feature 122 apartments, two guest suites for people visiting residents and a 5,500-square-foot space for a restaurant. The standard apartments range from 1,768 square feet with two bedrooms to 3,635 square feet with three bedrooms, but there are even larger units on the top floors. There are three full-floor units of 12,000 square feet each atop the building.
Coral Gables-based Nichols Architects designed the project.
Site work on Regency Parc has started and plans are to open Christmas of 2025.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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Read MoreConnect CREWhen traditional lending options dry up, it’s good to have contacts with one of the world’s biggest investment banking firms. Developer Codina Partners has tapped Goldman Sachs to secure a $115 million construction loan for a Coral Gables apartment project. The S. Florida Business Journal reports Codina contributed $75 million in equity to the Regency Parc project. …
The post Miami Apartment Developer Taps Goldman Sachs for $115M Construction Loan appeared first on Connect CRE.