**Continua, Oldtown Secure $50M Financing for Miami Multifamily Project**
Continua Developments and Oldtown Capital Partners have secured $50 million in financing for the Urbania NoMi 125 St. multifamily development in Miami. The funding includes a $40 million senior loan from First American Bank and a $10 million preferred equity investment from Waterton Residential.
The Urbania NoMi is a 12-story residential project located at 1150 Northeast 125th Street, situated on a 1.3-acre site. Construction began in December and completion is expected by the end of 2026.
The development will feature 195 residential units along with a variety of upscale amenities including a social lounge, media room, indoor and outdoor fitness areas, a resort-style pool, yoga lawn, and outdoor summer kitchens. The property will also include a 256-space parking garage and 11,182 square feet of ground-floor retail space.
Continua and Oldtown acquired the site in 2022 for $7.59 million. Continua Developments is the U.S. arm of Constructora Capital, a leading real estate development firm based in Colombia.
