Developer Lands $134M to Build Fourth Apartment Tower Near Miami Metrorail
Santander Bank led the financing for the planned 37-story tower with nearly 400 units
By Jeff Ostrowski June 11, 2026 12:45 pm
reprints
13th Floor Investments announced Thursday it has secured a $134 million construction loan to finance the development of a fourth residential tower at Link at Douglas, a transit-oriented project in Miami.
Santander Bank led the construction financing. TD Bank and First Horizon Bank also participated.
Miami-based 13th Floor is developing the project in partnership with Barings, the asset manager that’s a division of insurance giant MassMutual.
The 37-story tower, known as Crescendo, is being built at 3070 Southwest 37th Avenue, adjacent to Miami-Dade County’s Douglas Road Metrorail station. Crescendo will include 392 multifamily units, and it will be the final phase of the 7-acre Link at Douglas project.
Construction has begun and is scheduled for completion in 2029.
The first two towers at Link at Douglas, Core and Cascade, have been completed. Rents for studio units start at $2,000 a month at Core and $2,800 a month at Cascade, according to Apartments.com. A third apartment building is under construction.
In all, the project will include more than 1,500 units among the four towers.
“Crescendo is far more than the final tower at Link at Douglas,” Daryl Shevin, chief financial officer of 13th Floor Investments, said in a statement. “It represents the culmination of years of planning, investment and partnership with Miami-Dade County to create a community that brings housing, retail and transit together in one of Miami’s most connected locations.”
As part of the project, 13th Floor and Barings invested $17 million to renovate the nearby Metrorail station and create a public plaza connecting to The Underline linear park.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
