Two Roads Development secured a $138.1m construction loan to complete its condominium project Elysee Miami. The 57-story tower will offer 100 residences ranging between 2,600 and 4,000 sq ft. Common amenities include a sky lounge with dining and entertainment on the 30th floor, automated parking, a wine vault and storage and butler and concierge services. Walker & Dunlop arranged the financing with JP Morgan Chase Bank NA. Construction, which began in 2017, is slated for completion in 2020.
“Elysee is a very unique opportunity that appealed both to us and the financial community because it is a boutique building in a bohemian neighborhood,” said Kevin O’Grady of Walker & Dunlop. “Though it is not huge relative to its neighbors, it has all the benefits such as being on the water, being in an urban setting, and it has unparalleled and luxurious amenities. It was really an exceptional investment opportunity.”
