Miami’s Alta Mira Apartments gets $27 million construction loan

Wood Partners, the developer of the planned 240-unit Alta Mira Apartments complex in Miami has closed on a $26.8 million construction loan. The multi-family project will launch construction in July, with the first units available in early 2013. The financing came from Love Funding. The project was designed by Miami-based MSA Architects of Miami, and will be built by Current Builders. Miami has seen an increasing trend of multi-family development, with renewed demand for rental housing, particularly in the downtown area. — Alexander Britell