Terra and New Valley, the development partners behind Natura Gardens in Miami’s Hialeah neighborhood, have obtained $127 million in permanent financing for their new multifamily community. The loan was provided by an affiliate of MF1 Capital and will be used to refinance an existing construction loan from Bank OZK that was issued in 2021. Natura Gardens, which is set to be completed by Summer 2023, features 460 garden-style rental apartments spread across a spacious 23-acre property.
The apartments at Natura Gardens range from one to three bedrooms and offer generous living spaces ranging from approximately 727 square feet to 1,603 square feet. Rental rates start at around $2,000 per month and go up to $3,350 per month.
Keith Kurland of Walker & Dunlop’s New York Capital Markets team led the arrangement of the loan proceeds for refinancing the existing construction loan for Natura Gardens.
Residents at this gated community can enjoy a variety of amenities including a two-story clubhouse with a resort-style pool and spa; lounge area with bar and kitchen; fitness center; business center with co-working spaces; as well as a coffee bar.
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