September 17, 2019
National real estate development firm PMG, in partnership with Greybrook Realty Partners, has secured a $161.5 million construction loan for 400 Biscayne, a 49-story mixed-use project in Miami. The loan will offer financing for the development of the project, which broke ground in June.
Slated for completion in 2021, the one-million square-foot 400 Biscayne project will include 646 residential units, 51,000 square feet of commercial space and a 22,000-square-foot redesigned First United Methodist Church of Miami. Amenities will include a public lobby lounge and restaurant, co-working spaces, modern gym and fitness studio and pool deck and outdoor lounge.
Luis Flores of Saul Ewing Arnstein & Lehr attorneys represented PMG and Greybrook in the transaction. Financing was provided by Centennial Bank and Square Mile Capital.
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