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Construction loans valued at $94.5 million have been secured for Excel Miami, a 24-story multifamily tower under construction at 1550 NE Miami Place in Miami’s Art and Entertainment District.
The loans include:
• Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction.
• Southern Realty Trust Inc. announced that it originated and an affiliate of SRT agented a $26 million subordinate loan.
The developer is Clearline Real Estate, a real estate investment and development firm led by Jenny Bernell. Clearline is headquartered in New York and Miami and focuses on multifamily real estate investments across growing U.S. regions.
Excel Miami Apartments is designed to blend modern living with the vibrant artistic culture of Downtown Miami. The development was envisioned by design architect Arquitectonica elevating the standard of multifamily architecture in the area with a sleek, contemporary aesthetic.
The Project will total 214,183 rentable square feet, with 427 apartments offering studio, one-bedroom, two-bedroom and 13 townhouse loft units. The building’s amenity floor will feature 18-foot ceilings and includes a pool, yoga deck, fitness room, co-working space, screening room, and podcast suites. Located near the Metromover’s School Board Station, Excel offers a transit-friendly lifestyle in the heart of Miami, making it an ideal option for professionals seeking convenience and connectivity.
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