{"id":327559,"date":"2026-07-02T18:42:17","date_gmt":"2026-07-02T18:42:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/327559\/"},"modified":"2026-07-02T18:42:17","modified_gmt":"2026-07-02T18:42:17","slug":"lcor-lands-193m-for-miami-rental-tower-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/327559\/","title":{"rendered":"LCOR Lands $193M for Miami Rental Tower \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/lcor\/\" title=\"LCOR\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">LCOR<\/a> has scored a $192.5 million construction loan for a multifamily tower along Biscayne Boulevard near Miami\u2019s Edgewater neighborhood, property records show.<\/p>\n<p>The debt from the New York branch of the French bank <a href=\"https:\/\/commercialobserver.com\/company\/natixis\/\" title=\"Natixis\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Natixis<\/a> will fund a 42-story high-rise at 1775 Biscayne Boulevard, adjacent to Northeast 17th Terrace, a block from Margaret Pace Park, bordering between Edgewater and the Arts &amp; Entertainment District.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/07\/azorim-construction-loan-yonkers-development\/\" rel=\"nofollow noopener\" target=\"_blank\">Azorim Secures $69M Construction Loan for Yonkers Development<\/a><\/p>\n<p>The development, known as 1775 Biscayne, will house 544 apartments, 50,000 square feet of amenity space, a 449-spot parking garage, and about 10,000 square feet of ground-floor retail. Construction is expected to be completed in fourth quarter of 2028, per a representative for LCOR.<\/p>\n<p>The Berwyn, Pa.-based developer, which focuses on multifamily development, purchased the 1-acre site for $49 million in 2022, per records.\u00a0<\/p>\n<p>The project marks LCOR\u2019s first development in South Florida. Miami boasts the most competitive rental market in the country, with 96.4 percent occupancy, according to 2025 a <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/most-competitive-rental-markets-this-year\/\">report<\/a> from Rentcafe.\u00a0<\/p>\n<p>IPA Capital Markets, a division of Marcus &amp; Millichap, arranged the transaction, with a team consisting of Max Herzog and Andrew Cohen.<\/p>\n<p>Julia Echikson can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/07\/lcor-miami-1775-biscayne-natixis\/mailto:jechikson@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"LCOR has scored a $192.5 million construction loan for a multifamily tower along Biscayne Boulevard near Miami\u2019s Edgewater&hellip;\n","protected":false},"author":2,"featured_media":327560,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[135300,135301,135302,8001,43991,741,135303,123,125,124],"class_list":["post-327559","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-1775-biscayne","tag-1775-biscayne-boulevard","tag-andrew-cohen","tag-channel","tag-construction-financing","tag-finance","tag-max-herzog","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/327559","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=327559"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/327559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/327560"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=327559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=327559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=327559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}