{"id":110553,"date":"2026-01-08T16:16:42","date_gmt":"2026-01-08T16:16:42","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/110553\/"},"modified":"2026-01-08T16:16:42","modified_gmt":"2026-01-08T16:16:42","slug":"200-million-c-pace-financing-secured-for-okan-tower-as-construction-reaches-40th-floor-in-downtown-miami","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/110553\/","title":{"rendered":"$200 Million C-PACE Financing Secured for Okan Tower as Construction Reaches 40th Floor in Downtown Miami"},"content":{"rendered":"<p>Okan Tower has reached the 40th floor as construction continues at the 72-story mixed-use high-rise rising at 555 North Miami Avenue in Downtown Miami. Developed by Okan Group and designed by Behar Font &amp; Partners, the project is now more than halfway toward its planned 903-foot height.<\/p>\n<p>The construction milestone coincides with the closing of $200 million in C-PACE financing provided by Bayview PACE, a division of Bayview Commercial Mortgage Finance. The financing completes the capital stack for the project and supports qualifying energy efficiency, water conservation, building envelope, and resiliency components integrated into the tower\u2019s design and construction.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-35530\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/01\/Okan-Tower_Cupola.jpg\" alt=\"\" width=\"1500\" height=\"857\"  \/><\/p>\n<p class=\"wp-caption-text\">Credit: Okan Group.<\/p>\n<p>Scheduled for completion in 2028, Okan Tower is expected to become the second-tallest building in Florida. The upper portion of the tower will be occupied by 163 luxury condominium residences branded as Sky Residences. Below the residential floors will be 236 condo-hotel units available for sale and managed by Hilton, followed by a 316-key five-star Hilton hotel. Four floors of office space totaling approximately 56,000 square feet will occupy the lower levels of the building.<\/p>\n<p>Amenities associated with the Sky Residences include a 24-hour concierge, rooftop pool and outdoor lounge areas with cabanas, a wine cellar, owners lounge, and spa facilities with sauna, steam, and massage rooms. The tower will also include a 429-space on-site parking garage. Sales of the Sky Residences and condo-hotel units are being led by Fortune International Group.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-35527\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/01\/Porte_Cochere.jpg\" alt=\"\" width=\"1500\" height=\"868\"  \/><\/p>\n<p class=\"wp-caption-text\">Credit: Okan Group.<\/p>\n<p class=\"s20\">\u201cWe are pleased to provide this C-PACE financing to help complete Okan Tower\u2019s capital stack and support Okan Group\u2019s objectives,\u201d said Jeff Klar, Vice President of Bayview PACE. \u201cBayview crafted a creative financing solution that was accretive to the sponsor\u2019s goals and aligned with the project\u2019s construction timeline. This nine-figure C-PACE transaction underscores both Bayview\u2019s structuring expertise and the financial strength of the broader Bayview platform.\u201d<\/p>\n<p class=\"s20\">\u201cThe closing of Okan Tower\u2019s $200 million C-PACE financing is a defining milestone that validates both the project and the strength of the Miami market. This level of lender commitment\u2014particularly in today\u2019s disciplined capital environment\u2014confirms confidence in the capital stack, the long-term fundamentals, and the vision behind what will be one of Downtown Miami\u2019s most spectacular and architecturally significant luxury towers. For buyers, this reinforces that the time to invest in Downtown Miami is now, while pricing, product, and global demand are aligning at an exceptional moment,\u201d said Michael Sadov, Sales Director at Okan Tower.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-26585\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/01\/Okan_Exterior_Top-View_opt.-1.tif\" alt=\"\"\/><\/p>\n<p>Founded in 1972, Okan Group operates internationally across healthcare, finance, tourism, energy, education, and real estate. One of its subsidiaries, Okan Construction, is serving as the general contractor for Okan Tower.<\/p>\n<p> <a href=\"http:\/\/eepurl.com\/hud0UH\" rel=\"nofollow noopener\" target=\"_blank\">Subscribe<\/a> to YIMBY\u2019s daily e-mail<\/p>\n<p><a href=\"https:\/\/instagram.com\/yimbygram\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Follow<\/a> YIMBYgram for real-time photo updates<br \/><a href=\"https:\/\/www.facebook.com\/YIMBYFB\" rel=\"nofollow noopener\" target=\"_blank\">Like<\/a>\u00a0YIMBY on Facebook<br \/><a href=\"https:\/\/twitter.com\/yimbytweets\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Follow<\/a> YIMBY\u2019s Twitter for the latest in YIMBYnews<\/p>\n<p><a href=\"https:\/\/floridayimby.com\/category\/uncategorized\" rel=\"category tag nofollow noopener\" target=\"_blank\">Uncategorized<\/a><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"Okan Tower has reached the 40th floor as construction continues at the 72-story mixed-use high-rise rising at 555&hellip;\n","protected":false},"author":2,"featured_media":110554,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226],"class_list":{"0":"post-110553","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hialeah","8":"tag-hialeah","9":"tag-hialeah-headlines","10":"tag-hialeah-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/110553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=110553"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/110553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/110554"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=110553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=110553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=110553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}