Resident Group Lands $114M HUD Refi for Luxe Miami Rental Building
By Julia Echikson October 16, 2025 1:25 pm
reprints
Resident Group nabbed a $113.8 million refinancing loan backed by the U.S. Department of Housing and Urban Development (HUD) for a new, luxury multifamily building in Miami’s Edgewater neighborhood.
The Miami-based developer completed the Metro Edgewater development in 2023. The 32-story tower includes 279 apartments and 13,000 square feet of amenities, including a pool deck and a gym. Metro Edgewater is at 452 NE 31st Street, a block east of Biscayne Boulevard, near the Midtown and Design District neighborhoods.
JLL’s multifamily lending division structured and underwrote the loan, which is backed by HUD’s FHA 223(f) multifamily loan insurance program, according to JLL. The scheme offers fixed-rate, nonrecourse financing with 35- to 40-year terms for multifamily properties.
JLL’s Jesse Wright and Joshua Odessky represented Resident Group, a joint venture among Lujeni Corporation, Camino Capital Management and Building Block Realty.
Monthly rents at the 595,100-square-foot building range between $2,858 and $5,475 with multifamily giant Greystar managing the asset, per Apartments.com.
In 2022, Madison Realty Capital provided a $55 million construction loan. After the building’s completion a year later, the developers landed a $115 million refinancing loan from MF1 Capital.
A representative for Resident Group did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
