A joint venture between LD&D and IGEQ, alongside Black Salmon and Bridge Investment Group has landed a $56 million loan to recapitalize Wynwood Haus, a 224-unit community located in the Miami neighborhood of the same name.
Berkadia teams from Miami, Denver and Boca Raton, Fla. helped arrange the loan. Fannie Mae furnished the seven-year, fixed-rate loan with full-term interest-only.
Located at 1765 N. Miami Avenue at the entrance to the Wynwood neighborhood, Wynwood Haus was completed last year. The community includes studio, one- or two-bedroom layouts. Residences range from 390 to 960 square feet in size.
Mixed income, through and through
One hundred of Wenwood Haus’ apartments are workforce housing, designated for families that earn from 100 to 140 percent of Area Median Income. The property also includes more than 6,800 square feet of ground-floor retail space.
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Features and finishes of apartments include floor-to-ceiling windows, oversized balconies, in-unit full-size washer-dryers, wireless-controlled smart thermostats, 10-foot-high ceilings, walk-in closets, rain showers and secure keyless entry.
Amenities include sun deck and pool with bay views, fitness center and outdoor terrace, co-working area and conference room, library, resident lounge, as well as a a smart locker package room, electric car charging stations, cold storage and pet grooming station. Located within steps of the School Board Metromover station, Wynwood Haus is a designated transit-oriented development. Residents can readily reach downtown Miami, Brickell and Miami Beach via the Metromover elevated rail system, and reach other destinations by boarding Metrorail and Brightline regional commuter trains.
Earlier this month, NuRock Cos. secured a $38.7 million debt package for the 115-unit affordable housing development Residences at Beverly Park in Hollywood, Fla. The same week, a joint venture between Fortune International and Blue Road secured a $73 million construction loan for Nexo Residences, a 254-unit condominium development in North Miami Beach.
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