Estates at Acqualina gets $558 million in construction loan

Estates at Acqualina, an ultra-luxury twin-tower project in Sunny Isles, has received construction financing by the Bank OZK — formerly Bank of the Ozarks, marking the most significant condo construction loan in Miami so far this cycle. The project is now set to go vertical.

The project is valued at $1.5 billion, with twin towers rising 50 stories each, or 649 feet – the maximum height permitted in the area. A total of 245 condos are planned between the two towers, with units ranging from 3,287 square feet to over 12,000 square feet for the largest penthouse. The standard condos are priced from $4.2 million to $12 million.

The largest penthouses will count with individual pools, and the price ranges from $32 million to $36 million. The lower penthouses, with about 6,200 square feet, are priced from $13.5 million to $14.5 million.

Groundbreaking took place in May.

from BRG International - Feed https://ift.tt/2y5Xxfc
via Beyond Realty Group