Oak Row Equities Secures $210.5M in Financing for Luxury Miami Multifamily Tower

Oak Row Equities, a vertically integrated real-estate private equity and development company, has secured $210.5 million in construction financing for 2900 Terrace, a new luxury multifamily tower in Miami's Edgewater neighborhood. The financing includes a $142.5 million senior loan from Bank OZK and a $68.0 million mezzanine loan from Canyon Partners Real Estate, a direct investment business. JLL, a commercial real estate and investment management company, represented the borrower and arranged both loans. Construction is set to begin immediately, with the project's completion expected in the fourth quarter (Q4) of 2027. Oak Row Equities managing partners Erik Rutter and David Weitz said, "We are proud to have successfully closed both the debt and equity capitalisation for this transformative project. This development is the result of a highly focused investment thesis grounded in rigorous, data-driven analysis of supply-demand dynamics within Miami-Dade's multifamily market." 2900 Terrace is designed by domestic architect Arquitectonica and poised to offer a high-end rental experience in Miami. The tower will feature 324 homes with protected views of Biscayne Bay and both private and shared outdoor spaces. The residences at 2900 Terrace, including one-, two-, and three-bedroom options, are tailored for design-conscious renters, offering features such as large wraparound terraces and home offices. Arquitectonica's design for the tower includes bronze-like accents contrasted with off-white stucco, textured facade elements, and materials such as perforated corrugated metal and reflective glass. The tower's amenities are focused on wellness and include a fitness center, yoga studio, pet spa, and various entertainment and recreational spaces. 2900 Terrace also offers an outdoor amenity program, including a swimming pool, cabanas, BBQ grills, and padel courts. The property is situated on a 1.5-acre site with over 500 parking spaces and is located near Wynwood, a new Whole Foods store, and a future Brightline rail station. Oak Row Equities has successfully secured the necessary financing to bring this luxurious multifamily tower to life in Miami's Edgewater neighborhood. With its sleek design and focus on wellness amenities, 2900 Terrace is poised to become a popular destination for design-conscious renters looking for a high-end living experience in the heart of the city.