Crescent Heights obtained a refinancing in the amount of $238.4 million for Forma Miami, a newly built, Class-A+ multifamily building located in the Edgewater neighborhood of Miami.
Walker & Dunlop Capital Markets, led by Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Michael Stepniewski and Michael Ianno, arranged the permanent refinance. The fixed-rate loan was provided via Freddie Mac’s Lease-Up program.
Forma Miami features 588 luxury residences, ranging from studio to three-bedroom units and over 85,000 square feet of activated indoor and outdoor amenities. Forma features a penthouse-level Skyline Lounge with a full-length bar and an adjacent Skyline Terrace boasting panoramic views of the bay and city. Forma’s amenities include everything from a Golf Simulator to a Sports Bar to a Beer Garden and a Game Room.
The property also features Edgewater’s first Whole Foods Market, occupying over 50,000 square feet at the base of the property.
Rockwell Group and Arquitectonica designed the project.
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