Bank OZK has provided $76 million of construction financing for the development of Soleste NoMi, a 367-unit apartment project in North Miami Beach, Fla. JLL arranged the loan.
The Estate Cos. is breaking ground late next month on the 23-story property, which is being built on 1.78 acres at 16395 Biscayne Blvd. It will include 2,708 square feet of commercial space and a 655-space parking garage. Amenities include a swimming pool, fitness center, spa, rooftop garden and co-working space.
Units will range in size from 700 to 1,300 sf.
Commercial RealEstate Direct. May 2021.