Codina Partners Scores $65M In Loans For Miami-Dade County Project
Codina Partners and its development team received $65 million in construction mortgages from Wells Fargo for the Downtown Doral project.
The bank provided a $40.3 million mortgage for 5252 Paseo, a condo building with 203 units, and a $25 million for the 80,000-square-foot retail building that will be developed in partnership with Miami-based Lennar Corp.
“Wells Fargo understands and shares our vision for creating a true downtown for one of Miami-Dade County’s fastest growing communities,” Ana-Marie Codina Barlick, CEO of Coral Gables-based Codina Partners, said in a news release. “We are thrilled to have them as part of our team and look forward to do a lot more with them as we move into the future.”
The entire 120-acre project is slated for 2,840 residential units, over 1 million square feet of office space, 180,000 square feet of retail space and a charter school. So far, 454 residential units, the Doral Government Center and 600,000 square feet of offices have been completed.