S3 Capital originated a $67 million construction loan for the Tula Residences luxury condo tower from developer Bayshore Grove Capital, led by Vivian Dimond.
The 21-story, 54-unit development rising at 7918 West Drive in North Bay Village is expected to top out within months, according to a press release.
Brown Harris Stevens Miami is exclusively leading sales at the waterfront development, which features two- and three-bedroom residences and six penthouses averaging nearly 4,000 square feet.
“We continue to focus on well-located, high-quality projects with experienced sponsorship,” said S3 Capital Co-Founder and Managing Principal Robert Schwartz. “Tula Residences is a strong fit for our portfolio, with local experts leading the way in a dynamic Miami submarket that is seeing significant public and private investment.”