Developer obtains $158 million construction loan for project in Miami’s Overtown
August 7, 2023
An affiliate of Atlantic Pacific Cos. secured a $157.5 million construction loan for a mixed-use project in Miami’s Overtown. PNC Bank, acting as lead lender for a group of banks, provided the leasehold mortgage to Block 45 LLC, an affiliate of Miami-based Atlantic Pacific. It covers the developer’s lease with Miami-Dade County on the 2.07-acre site at 152 N.W. Eighth St. It’s located near the Overtown/Lyric Theater Metrorail station and the Brightline MiamiCentral passenger rail station.