New Rental Building Near Miami’s Wynwood Secures $56M Refi
By Julia Echikson July 24, 2025 3:05 pm
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Black Salmon, LD&D (in a joint venture with IGEQ) and Bridge Investment Group secured $56 million to refinance a new multifamily building near Miami’s Wynwood neighborhood.
Wynwood Haus, completed last year, includes 224 apartments and ground-floor retail at 23 Northeast 17th Terrace.
Berkadia originated the Fannie Mae-backed, seven-year loan with full-term interest-only payments. Berkadia’s Brad Williamson, Scott Wadler, Chris Ellis, Mitch Sinberg, Matt Robbins, Abigail Beauchamp and Jared Hill arranged the financing.
The 20-story building sits just south of the Miami City Cemetery in Wynwood, within an Opportunity Zone, a federal program created during President Donald Trump’s first administration to provide incentives in return for development.
The occupancy rate at Wynwood Haus stands at 94 percent, per Berkadia. One hundred units qualify as workforce housing for those earning between 100 and 140 percent of the area median income. Amenities include a pool and sun deck, a fitness center, and coworking space.
In 2019, the development team purchased the 0.6-acre site for $5.9 million, and two years later secured a $37 million construction loan from Bank OZK, according to property records.
Update: The article was updated to include IGEQ’s involvement.
Julia Echikson can be reached at jechikson@commercialobserver.com.
