Agave Holdings has secured a $100m construction loan for the first phase of The Plaza Coral Gables. Going up in the heart of the Coral Gables business district, the mixed-use scheme is slated for completion in June 2020. Phase one will feature a 14-story, class A office building totaling 291,129 sq ft, 135 multi-housing units, 34 ground level loft apartments along with 101,439 sq ft of retail space. The second phase will add an additional 222,541 sq ft of net leasable area, including office, residential townhomes, retail space and a 242-room hotel. Holliday Fenoglio Fowler worked on behalf of the borrower to source the funding.
“The Plaza Coral Gables is not only a milestone project for Coral Gable’s history but in South Florida history,” said Manny de Zárraga, executive managing director at HFF. “This project is the culmination of years of hard work by the Agave team, who are focused and dedicated to providing the best tenant and customer experience for years to come.”
