13th Floor Investments, working in partnership with Barings, has obtained a $134 million construction loan to fund Crescendo, the fourth and final residential tower at the Link at Douglas mixed-use development. The construction financing is being led by Santander Bank, with TD Bank and First Horizon Bank participating as partners in the loan.
Crescendo is planned as a 37-story multifamily tower with 392 residential units. The building is rising at 3070 SW 37th Avenue, adjacent to the Douglas Road Metrorail Station in Miami-Dade County. The site sits at the intersection of US-1 and Douglas Road, positioned between the Coral Gables and Coconut Grove areas. Construction is underway, and the tower is expected to deliver in 2029.
The new loan supports the final phase of Link at Douglas, a multi-phase transit-adjacent community that has added a significant amount of housing and retail to the area. The development’s first phase was completed in 2023 and introduced two residential towers totaling 733 apartments: the 312-unit Core building and the 421-unit Cascade building. Both towers are reported to be fully leased.
In addition to the residential component, the first phase delivered more than 30,000 square feet of retail space. This retail portion is anchored by Milam’s Market, bringing a grocery component to the project and helping establish Link at Douglas as a mixed-use node serving surrounding neighborhoods.
The project’s third residential tower, the 432-unit Cadence building, is currently under construction and is expected to deliver in 2028. With Cadence and Crescendo built out, Link at Douglas is projected to encompass more than 1,500 residential units across its four towers, creating a large-scale multifamily community with an established retail base.
The Crescendo financing continues the build-out of the master-planned development, extending the timeline of new multifamily deliveries at the site through 2029. While specific loan terms beyond amount and lender group were not disclosed, the facility enables 13th Floor Investments and Barings to advance the final phase of the project alongside the ongoing work at Cadence.
