Miami Luxury Development Receives $58M Loan

Estate Investment Group (EIG) has secured $57.8 million in construction financing for the development of Soleste Twenty 2, a 338-unit luxury rental community in West Miami, with an estimated completion date scheduled for mid-2019. The developer arranged the loan through Florida Community Bank. Located at 2201 Ludlam Road, the property will feature studio, one-, two- and three-bedroom apartments, as well as floors plans specifically designed to provide residents with work-from-home options. Amenities will include a pool with spa, sun deck and private cabanas, gaming and theater room and a fitness center. Furthermore, the community will feature a jogging trail adjoining a dog park and playground.