Wells Fargo lends $46M for Downtown Doral condo tower

Codina Partners secured a $46.13 million construction loan from Wells Fargo Bank for its second condo tower in its Downtown Doral project.

The bank (NYSE: WFC) provided the mortgage to Parcel C1 Property, an affiliate of the Coral Gables-based developer, to build 5300 Paseo near 8500 N.W. 52nd Street. The 20-story tower will have 219 units. It was designed by Sieger Suarez Architects and Adriana Hoyos.

The two- and three-bedroom units range from 1,118 to 1,927 square feet. Pre-construction prices range from $250,000 to $869,000. Amenities will include a pool, children’s play area, fitness facilities and massage rooms.

Codina Partners already completed the 203-unit 5252 Paseo in Downtown Doral. The project has 2,840 residential units planned in all, plus 1 million square feet of office space, 200,000 square feet of retail and a charter school.

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Story by: Brian Bandell – Apr 20, 2015, 10:24am EDT
Photo Courtesy: Biz Journals
Photo Description: Codina Partners is building 219 condos at 5300 Paseo in Downtown Doral.

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