CC Residential, led by developers Armando Codina and James Carr, landed a $43.3 million bank loan to finance construction of an apartment building in Doral.
A company affiliated with Coral Gables-based CC Residential got the construction loan from PNC Bank. The loan will finance construction of Doral 4200, a 250-unit apartment building on a 9.6-acre site at 4200 Northwest 107th Avenue in Doral.
Common-area amenities at Doral 4200 will include a swimming pool, a clubhouse and play area for children, plus walkways circling lakes.
In January, CC Residential paid $11 million for the development site, located just north of Northwest 41st Street, a major arterial road in Doral.
CC Residential’s Codina is the lead developer of a nearby mixed-use project called Downtown Doral, a master-planned development that will have more than 1.4 million square feet of commercial space, including 400,000 square feet of office space, and 5,000 residential units.
Source: The Real Deal