South Florida and nationwide, September 20, 2025
News Summary
Private credit and institutional lenders are increasing multifamily lending as banks retreat from construction exposure. A national capital raise will back construction loans up to $1 billion, targeting $30M–$200M originations with up to 80% loan-to-cost. In South Florida, owners refinanced a 288-unit suburban complex for $58.3 million with a seven-year floating-rate, agency-backed loan. Meanwhile, a developer secured a $111.25 million construction loan for a 26-story, 310-unit Brickell tower, with construction expected to start in summer and deliver in 2027. The moves underscore growing private capital filling gaps in construction and refinance markets.
Major capital moves push multifamily construction lending and local projects forward
Three separate financing announcements this week mark fresh momentum for multifamily development and refinancing in the U.S. One firm raised new capital to underwrite up to $1 billion in construction loans for apartment projects nationwide, a South Florida rental complex secured a $58.3 million refinance, and a high‑rise development in Brickell landed a $111.25 million construction loan to begin work later this year.
New construction lending pool aims at multifamily projects across the country
An investment adviser affiliated with a commercial real estate finance platform announced new capital to originate up to $1 billion of construction loans backed by multifamily properties across the United States. The program targets individual loans in a range from $30 million to $200 million, with proceeds expected to be available at up to 80% loan‑to‑cost. Loan structures will generally use competitive floating interest rates determined by property fundamentals, sponsor strength and project strategy.
The firm said the raise builds on roughly $3 billion of loans closed year‑to‑date and further expands a loan servicing portfolio that exceeds $13 billion. The announcement also noted a shift in bank market behavior, with many banks reducing construction lending exposure because of regulatory capital requirements and changing risk appetites, increasing demand for institutional, asset‑backed credit from alternative lenders and capital pools. The firm emphasized a focus on major multifamily markets and partnerships with experienced sponsors, with exit strategies that may include HUD and other agency programs. Media contact listed as [email protected] and web resources provided for more information.
Homestead apartment complex refinanced for $58.3 million
A 288‑unit rental community in Homestead secured a $58.3 million refinance arranged by a national mortgage banking platform. The seven‑year floating‑rate loan is backed by a government‑sponsored enterprise and replaces prior financing on the asset, which opened in 2018 and was acquired for $71 million in 2021.
The property contains one‑ to three‑bedroom apartments across 12 three‑story buildings and includes amenities such as a swimming pool, fitness center, business center and on‑site coffee bar. The ownership group described strong resident demand and said the new financing supports continuation of their business plan in the market, where the owner group holds more than 2,700 units in the metro area. The property address is listed at 14981 Southwest 283rd Street in Homestead.
310‑unit Brickell tower secures $111.25 million construction financing
A Switzerland‑based developer obtained a $111.25 million construction loan from a global investment bank for a 26‑story residential tower in Brickell’s financial district. The project sits on a one‑acre site and will bring 310 units to market, including studios and one‑, two‑ and three‑bedroom layouts, plus roughly 380 parking spaces and more than 2,000 square feet of retail.
The 26‑story building is designed by a local architecture firm and will feature a rooftop garden, dedicated tea room, a fitness center with a yoga studio and coworking space. The developer plans to start construction in the summer and to complete the project in 2027; a local general contractor was named to lead construction. The lender was chosen for its experience managing complex capital structures, and a commercial real estate broker handled the financing placement. The developer previously closed other local construction financing earlier in the year and recently broke ground on a separate eight‑story, 85‑unit project.
What this means for the market
Taken together, the three financings illustrate two trends: institutional capital stepping in to fill construction lending needs, and continued investor appetite for stabilized and near‑stabilized multifamily assets in South Florida. Availability of floating‑rate construction financing with high loan‑to‑cost limits can accelerate starts, while agency‑backed and agency‑eligible loans remain an important exit strategy for sponsors. For borrowers and developers, the landscape now mixes traditional bank lenders, agency channels and larger institutional debt funds.
Key contacts and resources
- General media contact for the construction lending program: [email protected]
- Property address for the Homestead asset: 14981 Southwest 283rd Street, Homestead, FL
Frequently Asked Questions
What types of loans are included in the new $1 billion program?
Construction loans for multifamily properties, including balance‑sheet bridge and new construction financing, with target loan sizes generally between $30 million and $200 million.
How much of a project’s cost can be financed under the new program?
Proceeds are expected to be available at up to 80% loan‑to‑cost for eligible projects, subject to underwriting and sponsor strength.
What terms did the Homestead property receive?
The Homestead refinance is a seven‑year floating‑rate loan backed by a government‑sponsored enterprise and arranged by a mortgage banking firm.
Who provided the construction loan for the Brickell project?
The construction loan for the 26‑story Brickell tower was provided by a global investment bank and arranged by a commercial real estate brokerage team.
When will construction start on the Brickell tower and when is delivery expected?
Construction is planned to begin in the summer, with completion targeted in 2027.
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Quick reference: key financing details
| Item | Loan Amount | Lender / Arranger | Term / Type | Project Size / Units | Location |
|---|---|---|---|---|---|
| Nationwide construction program | $1 billion (capacity) | Investment adviser / affiliated platform | Construction loans; floating rates; up to 80% LTC | Target loans $30M–$200M | U.S. multifamily markets |
| The Olivia (refinance) | $58.3 million | Mortgage banking arranger | 7‑year floating; Freddie Mac‑backed | 288 units; 12 three‑story buildings | Homestead, FL |
| The Perrin (construction) | $111.25 million | Global investment bank | Construction loan; lender suited to complex capital structures | 310 units; 26 stories; ~380 parking spaces | Brickell, Miami, FL |
Deeper Dive: News & Info About This Topic
Additional Resources
- Commercial Observer: Berkadia $58.3M Freddie Mac refinance (Homestead)
- Wikipedia: Freddie Mac
- Multi-Housing News: Terra secures $291M for Miami project
- Google Search: Terra Miami $291M project
- CoStar: Construction loan for two multifamily towers in Miami’s financial district
- Google Scholar: Miami construction loan multifamily towers
- Bisnow: Goldman Sachs lends $111M for Brickell multifamily development
- Encyclopedia Britannica: Brickell Miami
- The Real Deal: Astor nabs $36M loan for Little Havana project
- Google News: Little Havana Miami loan
Author: Construction CA News
CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.
