{"id":304151,"date":"2026-06-11T18:10:20","date_gmt":"2026-06-11T18:10:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/304151\/"},"modified":"2026-06-11T18:10:20","modified_gmt":"2026-06-11T18:10:20","slug":"developer-lands-134m-to-build-fourth-apartment-tower-near-miami-metrorail-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/304151\/","title":{"rendered":"Developer Lands $134M to Build Fourth Apartment Tower Near Miami Metrorail \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/13th-floor-investments\/\" title=\"13th Floor Investments\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">13th Floor Investments<\/a> announced Thursday it has secured a $134 million construction loan to finance the development of a fourth residential tower at Link at Douglas, a transit-oriented project in Miami.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/santander-bank\/\" title=\"Santander Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Santander Bank<\/a> led the construction financing. <a href=\"https:\/\/commercialobserver.com\/company\/td-bank\/\" title=\"TD Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">TD Bank<\/a> and <a href=\"https:\/\/commercialobserver.com\/company\/first-horizon-bank\/\" title=\"First Horizon Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">First Horizon Bank<\/a> also participated.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/06\/new-york-library-redevelopment-affordable-housing\/\" rel=\"nofollow noopener\" target=\"_blank\">New York Would Tie Library Redevelopment to Affordable Housing Under New Plan<\/a><\/p>\n<p>Miami-based 13th Floor is developing the project in partnership with <a href=\"https:\/\/commercialobserver.com\/company\/barings\/\" title=\"Barings\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Barings<\/a>, the asset manager that\u2019s a division of insurance giant <a href=\"https:\/\/commercialobserver.com\/company\/massmutual\/\" title=\"MassMutual\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">MassMutual<\/a>.<\/p>\n<p>The 37-story tower, known as Crescendo, is being built at 3070 Southwest 37th Avenue, adjacent to Miami-Dade County\u2019s Douglas Road Metrorail station. Crescendo will include 392 multifamily units, and <a href=\"https:\/\/commercialobserver.com\/2025\/05\/13th-floor-barings-miami-link-at-douglas-cadence\/\" rel=\"nofollow noopener\" target=\"_blank\">it will be the final phase<\/a> of the 7-acre Link at Douglas project.<\/p>\n<p>Construction has begun and is scheduled for completion in 2029.<\/p>\n<p>The first two towers at Link at Douglas, Core and Cascade, have been completed. Rents for studio units start at $2,000 a month at Core and $2,800 a month at Cascade, according to Apartments.com. A third apartment building is under construction.<\/p>\n<p>In all, the project will include more than 1,500 units among the four towers.<\/p>\n<p>\u201cCrescendo is far more than the final tower at Link at Douglas,\u201d Daryl Shevin, chief financial officer of 13th Floor Investments, said in a statement. \u201cIt represents the culmination of years of planning, investment and partnership with Miami-Dade County to create a community that brings housing, retail and transit together in one of Miami\u2019s most connected locations.\u201d<\/p>\n<p>As part of the project, 13th Floor and Barings invested $17 million to renovate the nearby Metrorail station and create a public plaza connecting to The Underline linear park.<\/p>\n<p>Jeff Ostrowski can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/06\/multifamily-development-construction-financing-miami-metrorail-crescendo-link-douglas\/mailto:jostrowski@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">jostrowski@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"13th Floor Investments announced Thursday it has secured a $134 million construction loan to finance the development of&hellip;\n","protected":false},"author":2,"featured_media":304152,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[127503,8001,1127,43991,127504,127505,2152,741,127506,123,125,124],"class_list":["post-304151","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-3070-southwest-37th-avenue","tag-channel","tag-construction","tag-construction-financing","tag-crescendo","tag-daryl-shevin","tag-development","tag-finance","tag-link-at-douglas","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/304151","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=304151"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/304151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/304152"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=304151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=304151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=304151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}