Rockwood Capital inked an $88 million refinancing for the 297-unit Modera Edgewater in Miami. The transaction refinances a maturing loan, returns equity to investors, and provides long-term fixed-rate financing.Â
Colliers Mortgage Structured Finance Group, led by Jonathan Lee and Shahin Yazdi, arranged the Fannie Mae permanent loan. The team secured an early rate lock before the loan closing. The loan carries an interest rate fixed at 5.35% and has a 7-year full-term interest-only structure.
Located just one block from Biscayne Bay, Modera Edgewater is ideally situated within the Edgewater neighborhood, offering convenient access to major employment centers, recreational destinations, dining, and retail. The building’s unit mix includes studios, one-bedroom, two-bedroom, and three-bedroom apartments, designed to appeal to a wide spectrum of high-income renters seeking upscale accommodation in one of Miami’s most desirable neighborhoods.
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