Clearline Real Estate, led by founder Jenny Bernell, has secured $94.5 million in construction loans for Excel Miami – a 24-story multifamily tower currently being built at 1550 NE Miami Place in the Art & Entertainment District of Miami. The loans were provided by Centennial Bank and Southern Realty Trust Inc.
Centennial Bank granted a senior construction loan of $68.5 million, with Jay Brito facilitating the transaction as part of Clearline’s financing team. Additionally, Southern Realty Trust Inc. originated a subordinate loan worth $26 million.
The project was designed by renowned architect Arquitectonica and will encompass 214,183 rentable square feet upon completion. It will offer a total of 427 apartments including studio units, one-bedroom units, two-bedroom units and also feature unique townhouse loft options.The building’s amenity floor boasts impressive features such as high ceilings reaching up to 18′, along with amenities like an expansive pool area,a yoga deck,a fitness room,a co-working space,and even screening rooms and podcast suites for residents to enjoy.
Clearline is headquartered in both New York City and Miami,and is fully owned by women-entrepreneur Jenny Bernell.Prior to establishing her company,Bernell served as Executive Vice President at Kushner Companies where she oversaw their mixed-use development pipeline.This latest achievement further solidifies Clearline’s position within the real estate industry.
