A $213.4 million construction loan has been secured to complete the Natiivo Miami project in downtown Miami which broke ground in February. The developers of the project, Sixth Street Miami Partners were awarded the mortgage by Bank OZK.
Natiivo Miami is a master planned community that has been designed to incorporate 448 apartments which can serve as long or short term rentals for tenants; a hotel called the Gale Miami Hotel consisting of 240 rooms; and the Creative HQ that also includes 127 office condos available for sale, all under a single roof. The Natiivo Miami project will also include about 70,000 square feet of amenities spread over three floors, which include a private social club, coworking office spaces, a gym, a yoga lounge, a bike studio, and two swimming pools. High end culinary amenities will also be provided from LDV Hospitality, with a sophisticated food hall in a sit-down eatery setting, serving Italian cuisine.
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Other companies working on the Natiivo Miami project include the Miami-based Arquitectonica, serving as the architects; Miami-based Urban Robot Associates, as the interior designers; and West Palm Beach-based Kast Construction, who will serve as the general contractor for this project. This master planned community which is located in the heart of Downtown Miami is being led and managed by hospitality entrepreneurs Keith Menin and Marisa Galbut; it’s expected to be completed by the third quarter of 2023.
Keith Menin was pleased with the development and spoke on the benefits of Natiivo Miami’s location. Menin pointed out that recently there have been announcements of several high-profile tech and finance companies moving to Miami and also expressing interest in the area, and she explained that this meant the continued growth of Downtown Miami is assured. Menin also added, “We are confident that Natiivo Miami will play an integral role in this growth and are excited to forge ahead in construction.”
CEO of Cervera Real Estate, Alicia Cervera was also pleased with progress of the project and she said, “As the demand for new construction in Miami continues to rise, we are thrilled to see this revolutionary product come to life.”
