When traditional lending options become limited, it is beneficial to have connections with a top investment banking firm. Codina Partners, a prominent developer in Miami, has enlisted the help of Goldman Sachs to secure a $115 million construction loan for their latest project in Coral Gables. According to reports from the South Florida Business Journal, Codina contributed $75 million in equity towards the Regency Parc development.
Situated on 1.75 acres at 2601 Salzedo St., Regency Parc will stand tall at 18 stories and offer luxurious living with its 122 apartments and two guest suites for visitors. Additionally, there will be space allocated for a restaurant spanning over 5,500 square feet. The standard units range from two-bedroom apartments measuring at least 1,768 square feet to three-bedroom units reaching up to an impressive size of approximately3 ,635 square feet; however,the top floors boast even larger residences including three full-floor units each occupying an expansive area of12 ,000 square feet.
The design work for this project was carried out by Nichols Architects based in Coral Gables.
Construction has already commenced on site and completion is expected by Christmas of2025 .
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This article was originally published on Connect CRE’s website.
