[caption id="attachment_113875" align="alignright" width="300"]![]( "Filling-Station_3D_L_011")
Renderings of the Filling Station Lofts[/caption]
The real estate finance and investment management firm PCCP is providing a $15.5 million senior loan to Miami‐based NR Investments to purchase the Filling Station Lofts, a partially complete, foreclosed residential tower in Miami, PCCP announced today. The financing was arranged by CBRE. The 103,000-square-foot, 10-story tower is composed of 81 loft‐style residential units on a 0.6‐acre lot within the Edgewater submarket, just North of Downtown Miami. Development on the property had begun in 2006 with a different developer but was stalled by the financial crisis and the interior build‐out was never completed. NT Investment plans to complete the building's redevelopment into high-end rental units. [more]![]()
Renderings of the Filling Station Lofts[/caption]
The real estate finance and investment management firm PCCP is providing a $15.5 million senior loan to Miami‐based NR Investments to purchase the Filling Station Lofts, a partially complete, foreclosed residential tower in Miami, PCCP announced today. The financing was arranged by CBRE. The 103,000-square-foot, 10-story tower is composed of 81 loft‐style residential units on a 0.6‐acre lot within the Edgewater submarket, just North of Downtown Miami. Development on the property had begun in 2006 with a different developer but was stalled by the financial crisis and the interior build‐out was never completed. NT Investment plans to complete the building's redevelopment into high-end rental units. [more]