Barrington Brothers secures $60.9 million in construction refinancing for The Kavista, a 282-unit project in Miami. Värde Partners provides the two-year, floating-rate loan arranged by a JLL Capital Markets team led by Melissa Rose.
According to Commercial Edge, the note pays off Trez Capital’s $60 million construction loan originated in March 2022. Construction began on the eight-story building shortly after and is expected to be completed next month. The development team also includes ANF Group as general contractor and MODIS Architects as designer, along with Nielsen Landscape Architect for landscaping.
The Kavista offers one-, two- and three-bedroom layouts ranging from 567 to 1,389 square feet with features such as washers/dryers, quartz countertops and private balconies (in select units).
Residents can enjoy various amenities including a fitness center, business center clubhouse and swimming pool with deck. Other perks include a media room , coworking lounge , EV charging stations ,and approximately350 parking spaces .
This news was originally published on Connect CRE.
